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Revolving Land Facility (2023)

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Investment start date

June 2023 (12-month term)

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Asset Class

Private Debt

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Return

Targeting 10.15% p.a. IRR

This investment provided an opportunity to invest in a first mortgage revolving land facility to assist with acquisition of development sites for the well-known Melbourne based developer, Bensons Property Group.

The facility is a first mortgage secured loan over the property. It has a general security deed over the SPV of the land holding entity, corporate guarantee from the SPV of the land holding entity, and a personal guarantee from the director. With a loan-to-value ratio of 50%, and payment on a monthly basis to investors of 30-day BBSW plus a margin of 6.5% p.a.