B2B CAPITAL HAS RECENTLY SECURED ITS THIRD MAJOR JOINT VENTURE PARTNER - BRINGING A TOTAL END VALUE OF THESE PROJECTS IN EXCESS OF $1.2 BILLION.
In this edition, we highlight B2B Capital's success in securing its third major Joint Venture Partner which includes various projects located in QLD, confirming a total end value in excess of $1.2 billion. These projects, once complete, will provide for over 1500 lots avaliable to the market and will range from house & land packages, apartments and vacant blocks of land. Over the next coming months, we will introduce these current projects via our monthy newsletters.
We will also cover the latest news on what's been happening in the finance industry as well as a snippet of our latest Joint Venture project located at Chermside, refer below details, which we are currently working on that is 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.
Lend Lease sets up Aussie PPP business
Property Developer Lend Lease Corp has set up a new operation to originate private public partnerships (PPP) with governments in the fields of health, justice, defence and education in Australia.
The Capella Capital business will be headed by former head of infrastructure at Babcock and Brown Asia Pacific John Bowyer.
The business will complement Lend Lease's other PPP operations with governments in the UK...read more
Source: Sydney Morning Herald 19 August 2009
Reserve Bank says further rate cuts unnecessary
THE Reserve Bank (RBA) says the improvement in the global and domestic economies means further interest rate cuts are unlikely to be necessary.
Instead, if the improved prospects for economic growth prove accurate, the RBA says it will need to lift the cash rate from the current 49-year low of 3 per cent.
The minutes of the August 4 board meeting noted that the cash rate had already been reduced to its current "very low level in anticipation of very weak economic outcomes"...read more
Source: news.com.au 18 August 2009
Dexus Property Group posts $1.4bn loss
DEXUS Property Group has posted a $1.46 billion full year loss as its portfolio value plunged, and says it expects conditions to remain challenging in the coming year.
Dexus's net loss follows a net profit of $438 million in the prior financial year.
Dexus, which specialises in the office, industrial and retail sectors, said it had revalued the entire property portfolio as at June 30, resulting in devaluations totalling $1.6 billion...read more
Source: news.com.au 18 August 2009
Glades on the block
PROPERTY group Thakral Holdings has moved to quit the Glades Residences development at Robina in preparation for a major Surfers Paradise project.
The listed company has released the final 10ha of undeveloped land at the $500 million golf course community built aruond a Greg Norman-designed course.
The company listed the four parcels-East Hill, Peninsula, Medinah and North Hill-for sale in an off-market expression-of-interest campaign, which closed yesterday...read more
Source: Gold Coast Bulletin 14 August 2009
Chermside
This property has formal development approval for five residential towers ranging from 8 to 13 stories. Commercial and retail areas including a gym, potential childcare and other community facilities are also included. This will provide a high density village type atmosphere, being close to all essential services, shopping and amenities.
Current approval allows for over 450 units to be staged over 5 towers with the Gross Realisation Value in excess of $250 million.
The site adjoins Westfield Chermside Shopping Centre and backs directly onto Seventh Brigade Park and Merchant which provides excellent views and open space. Direct access to the Brisbane CBD via Gympie Road makes the site easily identifiable for development purposes. It is 10kms from the Brisbane CBD.
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.
