Funding of Partially Completed Project

UNIQUE FEATURE OF THE DEAL

• The borrower had commenced construction following a verbal approval from their relationship banker. When this verbal approval did not progress to funding, the borrower approached Balmain with construction having commenced and the project without presales.
• Balmain provided a solution to fund the remainder of construction as well as reimburse the developer for costs they had carried in progressing the project to this point.