$30M INCOMPLETE PROJECT OVERSEAS
We were approached to provide assistance to finance the completion of a mixed use project, including retail, serviced apartments and residential apartments in Melbourne which was under construction and approximately 25% partially complete. Equity and funding for the project had been coming out of China, however, funding had stopped and the builder was about to walk off the job. Our client approached us for a local funding solution.
We were faced with a range of issues which needed to be addressed in order to successfully settle the proposal including:
> Partially complete project
> Offshore sponsors
> Urgent settlement
Solution
We successfully funded the proposal with one of our private investor / lenders who understood the circumstances and backed the project to completion.
* Facility Amount: $15,000,000
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