St Marys, NSW
The Borrower had developed 7 townhouses at St Marys NSW 2760 with development funding sourced from a private debt funder. The Borrowers strategy was to retain all 7 townhouses on completion as long term investments.
Balmain provided Term Debt funding against the 7 townhouses stand-alone to pay out development funding on completion allowing the Borrower to implement the hold strategy.
Funding was provided through a non-bank commercial property lender to whom Balmain has exclusive access.