MPFM and co-investors provided Mezzanine financing (capitalised) for this mix use, high rise development of 651 apartments and 4,000 sqm of retail, with a total gross value of $350 million, by BRW Richlister Tim Gurner, for his development company Gurner TM
Pre-sales fully covered our principal and interest. The quality of the - development and professionalism of the Sponsor ensured a successful completion of the project amidst increasingly difficult market conditions.
Co- investment with Thakral Capital Australia (TCAP), Construction by Multiplex, Senior Debt ANZ. Other investors in the project included global Fund Manager Apollo and Australian domestic Fund Manager Maxcap.
Investment fully repaid November 2018.
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