ACMFinance  | Fast Property & Construction Finance

Parkside SA

7 Level Apartment Project

Overview

The developer purchased another development site & due to slow sales the bank would not provide funding for their next project requiring urgent settlement; this being a prime, highly profitable development site.

Solution

ACMF Proposed a take-out solution for the 10 luxury apartments. ACMF contracted and paid the full price including 10% deposit, the bank was satisfied with the sales, and proceeded to assist the developer with their next purchase.

ACMF had buyers waiting who purchased at a small discount to the market. ACMF was paid a small profit share by the developer at the end of the project

Results

The client was able to accelerate their next development prior to completing the sales of their existing development attracting a premium. All parties financially benefited.

Location

Parkside, SA

Date

2001

Service

Take out facility

Amount

$6,200,000

Application Forms

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