Oct 08 2018Add to Favorites
Balmain Private have provided a residual stock loan to refinance five recently completed residential apartments located at 25 Trent Street, Glen Iris in Victoria.
According to Balmain Private’s head of distribution, Tom Sherston, the $2.2 million loan was syndicated between seven investors via the Balmain Private digital investment platform and oversubscribed within 45 minutes. The investment term is 12 months and forecast return 8.65% net with distributions paid monthly to investors.
“Since Balmain settled the Loan, the Borrower has completed the sale of two of the security apartments, which reduced the (Loan to Value) LVR from 70% to 65%.”
“Balmain decided to hold the investment internally until these two apartments settled to remove unnecessary short-term capital repayment issues for investors investing via the Balmain Private platform”.
The Trentwood complex is situated within Glen Iris, an established residential area 10kms south-east of Melbourne’s CBD and within close proximity to schools, shops, parks, arterial roads adjacent to Burwood train station.
The Borrower is an entity established specifically for the development of ‘Trentwood’, and is part of a large, privately owned development group based in Melbourne. They currently have a pipeline of $1.2b in projects and on average are developing 650 dwellings per year.
“Investors can register on line via the Balmain Private website and once an investment account has been opened, can invest in high quality, lowly geared, syndicated loans, starting in increments of $10,000.”
“Since 2012 Balmain Private has delivered an average of 7.9% net across 150 stand-alone Sub-Trusts totaling an aggregate loan amount of over $500,000,000”.
CapitaLand Commercial Trust Management Limited, the Manager of CapitaLand Commercial Trust (CCT or Trust), is pleased to report distributable income of S$82.7 million for the quarter ended 31 March 2019 (1Q 2019), an uplift of 8.0% from 1Q 2018. Distribution per unit (DPU) was 2.20 cents, 3.8% higher than the 2.12 cents a year ago.
Residential developer Legacy Property is set to commence a syndicated equity raise for its 7thand final stage of Caddens Hill, with minimum investment amounts starting at $250,000, targeting 17.5% investment return over the twelve-month construction period.
MP Funds Management (MPFM) has made its first investment of 2019, a co-investment with another group that MPFM has a successful and ongoing co-investment relationship with. The acquisition of the Crossroads Homemaker Supercenter (the subject property) is an opportunity of scale and dominance in one of Australia’s most significant growth regions. The centre offers an existing net lettable area of 47,997sqm on 143,997sqm land over 4 separate lots. 93% of the property income is underpinned by national retailers including Bunnings Warehouse, Freedom, Fantastic Furniture, the Good Guys and Nick Scali.
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