2021 A Year To Remember

Matched with a healthy appetite for growth and diversity, we were committed to changing the narrative of the year that was – through deals that relied upon industry intelligence, collaboration, a strong thematic, and creative resolve.

Here we provide an overview of just a few of the various investments White & Partners undertook in 2021. As a whole, we arranged thirteen direct lending deals across a wide range of property sectors, investing over $1 billion. On the equity front, we executed 6 projects, collectively valued at over $220 million, across luxury residential, childcare, pet accommodation, rezoning, and mixed-use developments.

The property consists of a dated retail building and a 6,400sqm b-grade office tower leased to a range of service related tenants situated across 1.3 hectares of land. But it is the property’s strategic location in a growing inner western suburb that will allow us to undertake a mixed use development, representing strong value from both an income and development upside perspective. Early stages of planning show that the development has the potential to be a $300million project. The location is comparable to some of the key suburbs in Australia like Chatswood in Sydney and Toorak in Melbourne.

South West Sydney Land Subdivision Portfolio (24 Month First Mortgage Bridge Facility)

During the year, White & Partners provided over $500 million in first mortgage funding to a private Sydney developer, to assist in the acquisition of a portfolio of residential and commercial developments in Sydney’s South West Corridor. Each site presented with notable challenges, such as an absence of a master plan by the state government. Yet due diligence through our Ray White Data enabled us to realise there was a demand and supply gap, which would lead to value growth via land values and rental pressures.

Greenwich Aged Care Development (Convertible Debt Facility)

White & Partners provided a $10.25 million convertible facility to acquire and develop a high-end luxury residential Aged Care development. The challenge was in the design of the facility and the need to achieve a seamless end-to-end capital solution for the developer, whereby an option to convert debt facilities during the course of the project would eliminate the distraction of seeking new capital solutions once construction commenced. As such, we created a facility that progresses from a first mortgage bridge facility into a second mortgage construction facility.

Acquisition of a boutique, mixed-use project in Crows Nest, Sydney

With our development partner, Equicentia, White & Partners acquired a boutique mixed-use project in Sydney’s lower North Shore suburb of Crows Nest for $24.5 million. Enviably situated, and scheduled for the construction of bespoke large-scale apartments, this high-end luxury development proposes to bridge the gap between the large-scale homes and small apartment offerings typical of the lower north shore – satisfying the demand for downsizers and ex-pats alike.

Deserving of our attention, one can only observe how the private debt market continues to flourish as it meets the demand for clients seeking flexible and agile lending partners. Central to the sheer volume of transactions in 2021 was the commitment of our team, partners, and investors – rising to the occasion to ensure a year to remember for the betterment of all stakeholders.

At first glance, 2022 shows no loss of momentum, and our early observation is for this trend to remain true.