Morisset Park, NSW
Residential Land Lots
The Loan is secured by a first registered mortgage over 28 residual residential lots within the recently completed waterfront residential land subdivision known as “Trinity Point” estate at Morisset Park, NSW. The estate is a 190-lot residential subdivision encompassing 23 hectares located on the waterfront at Bluff Point in Morisset Park, NSW. Once fully complete, the master plan estate will comprise of a 188-berth marina (completed) and 250 residential apartments. The Loan facility is a residual stock loan and was to assist with the refinance of the development facility. The Borrower Group is one of the largest private residential land developers in NSW.
- The Loan was advanced at a Loan to Value Ratio of 43%.
- The Target Return is 9.15% p.a., net of fees and expenses, and is paid to Investors monthly.
- The Loan is supported by multiple joint and several guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 18 months, subject to early or late repayment, from 14 March 2018 to 13 September 2019.
Target Return9.15% net
Loan to Value Ratio43%
|Security||1st registered mortgage, multiple joint and several guarantees and a General Security Agreement over the Borrower|
|Asset||Residential sub-division, located in Morisset Park, NSW|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.