balmain + commercial + big deals + october 2008
Commercial office refurbishment
October 2008
| purpose | A multi tranche loan facility to refinance and reimburse the clients for significant funds already expended in the refurbishment of two commercial office buildings in the fringe CBD. |
| loan limit | Total Facility $4,700,000 (70% of security property valuations) Tranche 1 $3,700,000 Tranche 2 $1,000,000 |
| lvr | 70% of property valuations |
| loan term | 3 years fixed rate |
| interest rate | 7.05% fixed for 3 years |
In a testing credit climate Balmain Commercial was not only able to structure a loan package that provided exactly what the customers had requested but was able to deliver an interest rate that was considerably cheaper than the competition for the transaction.
The loan structure enabled the clients, who were all experienced property investors, to initially be compensated for a considerable portion of expended monies in the refurbishment works before a single tenant had been signed to the primary office building. Such an arrangement would never have been struck through our competition and provides yet another example of the far reaching nature of the Balmain Market Radar.
The bottom line – In the current climate of financial dislocation and ever tightening credit Balmain is better placed than ever to deliver you flexible funding at the best rates.
balmain + commercial + big deals + october 2008
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