Private Credit – Solutions Finance

Mixed-use, Residential

Residential

Mixed-use, Residential & Retail

Ashfield, Sydney

Cobbity, Sydney

Kangaroo Point, Brisbane

$44 million

$203 million

$34 million

68%

78%

65%

18 months

5 months

8 months

• Ashfield is a suburb with an abundance of amenities and a strong migrant population
• Significant presales cover and balance was effectively underwritten by strong growth as a result of migration

• The Mews property was contracted for sale to an Australian Stock Exchange (ASX) listed real estate company
• After undertaking due diligence, the lending syndicate was comfortable extending the leverage (through a tranche B) with the expectation that it will be repaid from settlement (occurred 24 December 2021)

• Property was in an inner-city location, with an abundance of amenities
• With 70% of facility covered by presales and advanced construction progress upon Financial Close de-risked the project

• RW Capital assisted a highly inexperienced developer through the development process
• RW Capital assisted the developer in the attainment of a residual stock facility to address the shortfall of the loan repayment amount by running a bank tender process

• RWC provided a working capital equity release for the Borrower (an existing relationship) after conducting thorough due diligence
• Despite a complex lending syndicate, RWC was able to execute the financing within a tight timeframe

• RW Capital utilised its propriety data to understand underlying trends behind Brisbane’s supply/demand dynamic, which had previously caused a large bank to withdraw its financing for the asset
• RW Capital conducted thorough due diligence on an under-construction asset