In this edition, we cover the latest news on what's been happening in the finance industry as well as a snippet of our latest funding project which we are currently working on that are certain to be of interest to you.
We hope you enjoy the newsletter and as always, please contact us on 1300 728 796 if you have any questions or need our assistance with commercial finance.
900-home project slted for Ormeau
STOCKLAND has unveiled bold plans to develop a massive 900-home residential community in Ormeau, the first major development announced for the Gold Coast in recent months.
The listed company plans to start building the master-planned community once council approves it.
While there is no dollar figure attached to the project, it could have an end value of about $500 million, a significant investment for the fast-growing northern corridor...read more
Source: Gold Coast Bulletin 9 June 2009
Crash and tougher bank nearly scuppered home deal
When real estate agent Peter Taylor made the winning bid for a $3.3 million three-bedroom home in Bellevue Hill in September, he was confident he would be able to come up with the cash to complete the sale.
But within a month he was in dire straits.
He could not go through with the sale until he sold his $7.1 million Mosman home, and so he turned to his long-term bankers for funding. But because Mr Taylor, 47, works in commercial property, an industry perceived to be "at risk", he was hit by the Commonwealth Bank's tighter home lending criteria...read more
Source: Sydney Morning Herald 9 June 2009
Indigo Group's loan failure could hurt CityPac
CITY Pacific's balance sheet may face a further hit through its investment in its Indigo Pacific Capital joint venture.
The company yesterday said it was awaiting an announcement by Indigo Pacific Capital over the likelihood it may not be able to recover a loan forwarded to privately owned Brisbane developer, the Indigo Group.
Indigo Pacific Capital, in which City Pacific holds a 26.5 per cent stake, requested a voluntary suspension of its shares on Monday...read more
Source: Gold Coast Bulletin 4 June 2009
Reserve Bank leaves interest rates unchanged
INTEREST rates have been left unchanged after the Reserve Bank of Australia decided the official cash rate should not be lowered any further.
At its monthly meeting, the Reserve Board decided to keep rates unchanged at three percent.
A statement from reserve governor Glenn Stevens said evidence had "continued to emerge that the global ecomony is stabilising, after a sharp contraction during the December and March quarters"...read more
Source: The Courier Mail 2 June 2009
Current Funding Available
B2B Capital can assist with the following funding options currently available which are as follows:-
- DA Approved Sites
- Distressed Projects
- Partially Complete Projects
- Completed Projects
B2B Capital has the ability to supply short term finance for acquisitions, refinance, development and construction for residential, commercial and industrial properties.
We can coordinate and structure finance packages to include the following:
- Senior debt
- Mezzanine funding
- Joint Ventures
This additional financial leverage can facilitate:
- Mergers and acquisitions financing
- An emerging growth opportunity
- A management or other leveraged buyout
- Corporate debt refinancing
- Recapitalization
- Commercial property development
Interest rates and fees associated with any loan approval will vary according to the type and complexity of the loan. All interest and fees will generally be capitalised within the loan facility.
