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Pallas Trust lends out $100m

The Australian .

Specialist property lender Pallas Funding Trust has secured $100m worth of loans since launching four months ago, with demand expected to accelerate.

The lender – funded by Pallas Capital and Credit Suisse – has approved funding for 30 projects and investments along the east coast since launch in November 2021.

Brisbane-based property developer Pikos received one loan to complete a future development site for six luxury townhouses in Bowen Hills, while others have gone towards industrial property purchases in western Sydney, a recently completed apartment project in central Adelaide and a portfolio of residential investment properties in NSW.

Pallas Capital’s executive director of lending Steve Lawrence said the strong demand for credit over the summer quarter demonstrates robust  appetite in the market.

“PFT has been seeded with a portfolio of high-quality loans in the three months since Pallas Capital commenced the program,” Mr Lawrence said.

“Our brokers have full confidence that Pallas Capital delivers in a lending environment that is fraught with over-promising and under-delivery.”

“All of these factors will see demand for PFT and the suite of Pallas Capital products continue strongly, with 2022 predicted to be a record year for lending volumes.”

Last November, the firm announced the launch of Pallas Funding Trust, with initial funding approval of $530m.

The Pallas Funding Trust offers a mix of loans, valued between $1m to $15m, ranging from pre-development to residual stock loans and investment property lending.

One of the two parent groups, Pallas Capital, has a current loan book of $960m across 124 loans. Development group Fortis also backs the new lender.

We look forward to taking these loan opportunities to our broker clients. To see how Pallas Capital can assist your customers please contact us at lending@pallascapital.com.au

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