Powered by MOMENTUM MEDIA
development
1 minute read

Melbourne investors to benefit from $210 million debt facility

Melbourne investors to benefit from $210 million debt facility

by Bianca Dabu | February 11, 2020 | 1 minute read

Australian and New Zealand commercial real estate (CRE) investment manager MaxCap Group (MaxCap) and non-bank corporate and property lender Metrics Credit Partners (Metrics) have worked together to fund a significant senior debt facilities for Melbourne’s property market.

Melbourne
February 11, 2020

MaxCap and Metrics will deliver $210 million of senior debt for the acquisition and development of the landmark Eynesbury estate by Resimax Group.

Located 35 kilometres west of the Melbourne CBD, between the fast-growing corridors of WyndhamWyndham, WA Wyndham, NSW and Melton, the estate consists of 825 hectares of land with potential for up to 10,000 home lots and a forecast gross realisable value in excess of $2 billion.

According to MaxCap’s co-founder and chief investment officer Brae Sokolski, the asset has undeniable potential to unlock significant value.

“The market fundamentals for land subdivision are strong, and we remain committed to supporting this sector in fast-growing regions such as the Western Growth Corridor in Melbourne,” he said.

Advertisement
Advertisement

This venture marks MaxCap’s and Metrics’ first joint credit facility, ultimately demonstrating how large-scale non-bank lenders can work together to assist institutional scale borrowers.

Metrics managing partner Andrew Lockhart said: “The market is increasingly seeing non-bank lenders undertake larger transactions, closing the gap left by the big banks.”

“We were very pleased to have worked together with MaxCap on one of the larger non-bank senior debt deals in Australia of the past year.”

“We appreciate the focused and professional support of the entire MaxCap team in arranging this large and complex facility, Resimax founder Aziz Kheir commented further.

"We feel confident knowing we have MaxCap as a long-term investment partner as we move forward with the development of this suburb.

Melbourne investors to benefit from $210 million debt facility
Melbourne
spi logo

Subscribe to get the latest news and updates - join a community of over 80,000 property investors.

Check this box to receive podcast updates

From the web

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.