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”.
Dexus today announced its result for the half year and reaffirmed its guidance for distribution per security growth of circa 5% for FY19. Dexus Chief Executive Officer, Darren Steinberg said: “It has been a productive six-month period where we have added value through enhancing our development pipeline and attracting new investors to our funds management business. This has all been achieved while maintaining low balance sheet gearing. “In our office portfolio we continue to outperform the MSCI office benchmark1 over one, three and five years through driving higher rents and lower incentives, particularly in Sydney which has been reflected in property valuations during the period. “In our funds management business, we now have $15 billion under management with investors and partners that can invest alongside us through the cycle, reinforcing our objective of being the wholesale partner of choice in Australian property.”
CapitaLand Commercial Trust Management Limited, the Manager of CapitaLand Commercial Trust (CCT or Trust), is pleased to report distributable income of S$83.1 million for the quarter ended 31 December 2018 (4Q 2018), an uplift of 10.7% from 4Q 2017. Distribution per unit (DPU) was 2.22 cents, 6.7% higher than the 2.08 cents a year ago. Gross revenue and net property income for the quarter increased by 14.8% and 16.6% year-on-year respectively. The better performance was largely attributed to the contributions from newly acquired Asia Square Tower 2 and Gallileo, which more than offset the loss of income from the divestment of Twenty Anson.
Residential developer Legacy Property is set to commence a syndicated equity raise for its 7th and final stage of Caddens Hill, with minimum investment amounts starting at $250,000, targeting 17.5% investment return over the twelve month construction period. Legacy Property has $3bn of projects completed and in progress consisting of c.3,600 dwellings . 14 projects have been completed with another 7 underway, gross completed project values range from $85m to $248million for each project.
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