First Mortgage Construction Sunshine

Pallas Capital invites eligible investors to participate in this First Mortgage Construction investment opportunity located in the opportunity located in Sunshine, one of Melbourne’s affluent western suburbs.

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8.25% p.a.
Investor return net of all fees paid quarterly in arrears
16 months
Loan term, with the forecast settlement date of 17 September 2021.
65% LVR
Of the ‘as if complete’ Gross Realisation Value

Project Details

The purpose of this construction loan is to assist with the construction of a six storey building comprising of 16 retail lots, five offices and 56 residential apartments.

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01
Investment
$24,765,000 First Mortgage Construction Facility. The Loan will be progressively drawn as construction works are completed.
02
Security
First ranking Registered Mortgage over the Security Property; First ranking General Security Agreement over the Borrower; Personal Guarantees from the Sponsors; Builder Side Deed between the Borrower, the Builder, the Lender and the Second Mortgage Lender in relation to the building contract for the construction works; and Priority Deed between the Lender and the Second Mortgage Lender.
03
Exit Strategies
Primary Exit: Sale of Apartments in Combination with an Investment Facility on the Retail and Office Components; Alternative Exits: Refinancing with a Residual Stock Loan plus an Investment Facility; or a Combination of Sales of Apartments and Sales of Retail and Office Components.

The Location

The Development occupies a central location in Sunshine, which is one of Melbourne’s western suburb’s located approximately 14km west of Melbourne Central Business District and is within the Local Government Area administered by Brimbank City Council.

As the Development is within walking distance of approximately 250m from Sunshine Train Station, it will benefit from the government infrastructure investment of $2 billion to transform Sunshine Train Station into a major transport hub, which will be further enhanced by the new metro tunnel and the long-term development of the air-rail link to the Melbourne Airport.

Nearby Amenities
1) Sunshine Train Station
2) Chaplin Reserve
3) The Granary Café
4) Sunshine Marketplace
5) Fitness First
6) Woolworths

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range of opportunities align with
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