Red & Co sources funding for SEQ shopping centre acquisition

In late 2017, Red & Co was approached by a prominent Australian Real Estate Fund manager to source debt for the purchase of a neighbourhood shopping centre

Metrics of the deal:

  • Springfield Fair in the growth corridor of Springfield was the centre acquired by the fund manager
  • The transaction was to occur over the December/January holiday period. Red & Co was able to push the banks to meet tight deadlines during this period
  • LVR for the transaction was 55%
  • Establishment fee lower than average at 0.3%
  • All in rate negotiated down to 3.8%
  • Lender was a BIG 4 Australian Bank
  • 3 major Australian banks competing for the business of this deal all presenting interest rates in the sub 4% region
  • Legal costs negotiated lower for the borrower

If you’re interested in purchasing a commercial property asset, or already own one, get in touch with Commercial Finance manager, Greg Turner at [email protected] or 0417 698 345.   It could save you thousands and the stress of having to negotiate with multiple banks to be certain you are getting the best offer on your borrowing.