Investment Date and Term August 2019; 24 month term
First mortgage: AUD $20.5m
Second mortgage: AUD $16.m
AUD 12.300m First Mortgage Land
60.0% LVR (42% incl. second
Multiple Capital has provided a 24
month land loan to Bewise for Lots S4 and S5 of its Hampstead Park Project in
Bewise is currently constructing Stage 1 of the project (78 townhouses) and is pre-selling Stage 2 (79 townhouses). Lots S4 and S5 will be developed as Stage 3 into a large mixed used development comprising commercial, retail and either retirement living or residential apartments.
The security package includes a first ranking mortgage on lots S4 and S5 and a second ranking mortgage on lot S3.