The client had purchased an industrial property and invested in significant upgrades, including a weighbridge and drainage systems, to support a recycling plant operation. Their existing lender facility was expiring, and major banks were unwilling to refinance due to the property being listed on the Environmental Management Register (EMR).
AMF stepped in to provide a commercial loan secured by a first mortgage over the specialised industrial site. Despite the EMR listing, AMF was comfortable with the asset and offered a 2-year facility at 57% LVR. This gave the client the time and capital needed to complete remediation works with a view to remove the property from the (EMR).
