Construction of 29 terraced townhouses, and subsequent subdivision located in Whenuapai, Auckland. The loan facility provided for capitalised interest and fees, and included a revolving GST facility. Funding was provided without any pre-sales or a QS appointed to the project.
| Loan: | $12,950,000 |
| End Value: | $19,300,000 |
| Loan-to-value: | 67% |
| Loan-to-cost: | 81% |
| Term: | 12 months |