Orange
Benchmark provided the loan for the purpose of refinancing existing debt and funding the construction of house and land packages at the residential subdivision project. During the loan term, the Borrower plans to construct houses and a duplex on the registered lots.
At a glance
Address
267-293 Ploughmans Lane, Orange, NSW 2800
Property Description
22 lot residential subdivision and construction of new homes.
Security
Registered first mortgage over the Security Property
General Security Agreement over the Borrower
Personal Guarantees from the Directors of the Borrower
Total Loan Facility
$10,314,000
LVR
70% at commencement
Effective LVR to Investor
55% at commencement
Target Return
10.5% p.a.
Exit
Settlement of completed house and land packages and/or refinance
Term
18 months
