No pre-sale funding on 48 Unit Student accommodation project

Finance Advocates Australia was set the massive challenge of finding a funding solution for an experienced South Australian developer who wanted to build and hold (not sell) a 48 room student accommodation project in Mawson Lakes South Australia.

With its vast experience, contacts and knowledge Finance Advocates was able to structure with one its Mortgage Trusts that exact package.

The developer had tried for several months all the traditional banks and lenders who would only consider the transaction if the project had 100% plus debt coverage.

The project is now well under construction now with an expected completion date later in the year where Finance Advocates may also assist with the take out of the construction loan to a main stream bank once the leasing up of the building is complete.