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Private Credit – Alternative Sectors

Peakhurst Inn

Greenwich Aged Care

Property

Hospitality

Aged Care

Location

Peakhurst, Sydney

Greenwich, Sydney

Loan Size

$25 million

$14 million

Peak LVR

59%

65% (First Mortgage Stage)

Term

18 months

28 months

Investment Thesis

  • Strong conviction on gaming revenues, with significant potential for gaming revenue growth within the asset
  • Experienced partner and operator
  • Strong risk adjusted returns
  • Lack of high-end luxury / quality aged care accommodation providers
  • Strong conviction on downsizer market given significant wealth generation in the Sydney market
  • Borrower obtained DA approval for the site, early works Construction Certificate and the relevant operating licenses

RW Capital Value-Add

  • RW Capital leveraged its knowledge and relationships in the pubs/hotels asset class to create debt investment opportunities- Stress tested valuation assumptions by assessing the borrowers strategy to increase yield versus internal precedents
  • Facility structure tailored to suit the borrowers requirements. Facility was structured as a convertible first mortgage facility which converted into a mezzanine debt upon the start of construction and again at the commencement of operations (i.e. total of 3 stages)

Peakhurst Inn

Property

Hospitality

Location

Peakhurst, Sydney

Loan Size

$25 million

Peak LVR

59%

Term

18 months

Investment Thesis

  • Strong conviction on gaming revenues, with significant potential for gaming revenue growth within the asset
  • Experienced partner and operator
  • Strong risk adjusted returns

RW Capital Value-Add

  • RW Capital leveraged its knowledge and relationships in the pubs/hotels asset class to create debt investment opportunities- Stress tested valuation assumptions by assessing the borrowers strategy to increase yield versus internal precedents

Greenwich Aged Care

Property

Aged Care

Location

Greenwich, Sydney

Loan Size

$14 million

Peak LVR

65% (First Mortgage Stage)

Term

28 months

Investment Thesis

  • Lack of high-end luxury / quality aged care accommodation providers
  • Strong conviction on downsizer market given significant wealth generation in the Sydney market
  • Borrower obtained DA approval for the site, early works Construction Certificate and the relevant operating licenses

RW Capital Value-Add

  • Facility structure tailored to suit the borrowers requirements. Facility was structured as a convertible first mortgage facility which converted into a mezzanine debt upon the start of construction and again at the commencement of operations (i.e. total of 3 stages)