The Fund had the opportunity to invest in a senior first mortgage via a Sub Participation Agreement on a Commercial Real Estate Debt position originated and managed by Madigan Capital.
The Loan was secured by an industrial facility being developed in Kingsgrove, NSW, 15km South-West of the Sydney CBD with proximity to Sydney Airport and Port Botany. The industrial development consisted of 129 strata lots comprising 75 warehouse office units and 54 storage units together with 161 associated car parks and was executed by a well credentialled sponsor with a long track record of delivering successful property outcomes.
The Loan Investment was substantially de-risked as the Unitholders invested post receipt of planning approvals and with ground works almost complete. Further, our Fund had payment priority over the principal lender with regards to the underlying Loan.
A compelling opportunity to co-invest alongside an institutional investor against a high-quality industrial development in suburban Sydney.
