Banner Asset Management

Riddells Creek Tranche 1 Loan

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Investment start date

April 2024
Up to 12-months with possible 3-month extension

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Asset Class

Private Debt
Property Debt

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Return

30-day BBSW + 6.5% p.a.
(10.7995% p.a. as at 25/4/24)​

This investment provided an opportunity to participate in a high income (10.7995% p.a.) for low LVR (49%) first mortgage planning approval facility, lending to preferential equity holders represented by Banner and a senior equity position held by Darren Lee from Sector Advantage. The loan will fund the approval process for a Precinct Structure Plan (PSP) and initial stages Development Approval (DA) that will allow for subdivision into residential land lots. The funding will be refinanced by a sale or further construction funding to complete development into residential land lots.