The Infinity Challenge
The project is designed to set the benchmark for urban living and develop what will become the landmark gateway to Sydney’s newest vibrant precinct, located in Green Square, NSW. Connecting people in timelessly beautiful architectural spaces. The challenge was to obtain an elegant funding solution within a short turnaround timeframe. The project will comprise of the flagship residential project of the Green Square urban regeneration precinct and involves the delivery of 401 residential apartments, 2,400sqm of retail/commercial space, 1,200sqm of multi-function space and basement parking for 410 cars, all within 4km of the Sydney CBD.
The firm’s main objective:
- Obtain a convenient, cost effective, efficient funding solution for the project
The Pepper Property Solution
Pepper’s Capital Solutions team originated an AUD280 million stretch senior construction facility on behalf of a third party lender, to facilitate the delivery of the project. The transaction provided the client with an approved/documented funding solution for the project within the required short turnaround time. The funding solution was provided by a single lender, in the form of a 1st mortgage, uni-tranche facility, with equivalent leverage to what would have otherwise been achieved by collating a syndicate of senior banks with a mezzanine debt provider.
- Provision of funding on a peak-debt basis, being a structure unavailable through traditional senior debt providers, provided the borrower with a convenient, cost effective and equity efficient funding solution for the entire delivery of the project