Some of the property projects, for which STAC and its Directors have been the lead-arrangers or financiers, are summarised below. Finance structures varied, ranging from straight Senior debt, to multiple layers of the capital stack such as Mezzanine Debt, Preferential Equity and JV Equity.
119 Luxury Apartments
Kangaroo Point Qld
Construction of a 12 storey luxury residential development, plus ground floor retail; apartments ranging from 1 bedroom $420k to penthouse $4.95m.
Major Bank funding achieved in late 2017 when market conditions presented very limited funding appetite for high-density inner-city residential development.
Gross Realisation Value $100m
Investor Syndicate Group purchase 25 year amortisation profile
$18m debt facility
Construction of an owner-builder/developer 10 storey residential apartment development
Gross Realisation Value $40m
70% amortised over 15 years with no recourse to Directors/Shareholders30% Interest Only for 10 years with recourse
Total Debt $8m
Construction of an 8 storey residential apartment development
Gross Realisation Value $45m
Construction of 5 storey residential apartment development
Gross Realisation Value $14m
Suburban Shopping Centre
Split Senior Debt strategy, $10m on 10 year Interest Only tenor with long-term Interest Rate Hedging
$15m amortised over 25 years
Total Debt $25m
Construction finance with Australian Bank. Developer’s existing bank spent over 3 months without getting to an approval. STAC quickly identified that the existing bank would not get to an approval. A deal with another bank, on more advantageous terms, was secured on indicative terms within 48 hours; formal approval expedited.
Gross Realisation Value $24m
Redevelopment of a boutique award winning hotel
Value on Completion $22m
Construction of a 12 storey mixed-use development comprising 22 ultra-luxury apartments plus ground-floor retail
Gross Realisation Value $70m
Motor Vehicle Dealership
Acquisition and refurbishment of new car dealership
Value on Completion $7.5m
Sippy Downs Queensland
Construction of multi-stage townhouse development
Gross Realisation Value $28m
Construction of tower 2 of total 210 apartments.
The bank that funded tower 1 provided an approval for tower 2, however their pre-sale terms could not be met in practice. STAC achieved an approval with a bank, during the elevated bank tightening of late 2018, negotiating terms that allowed a percentage of Chinese FIRB buyers far higher than even “normal market” conditions.
Child Care Centres
Acquisition/Development of multiple assets within a portfolio of freehold & going-concern child care centres
Portfolio Going-Concern Value $18m
Non-Bank construction finance with nil pre-sale requirement
Gross Realisation Value $5.4m
Construction of a partially owner-occupied industrial tilt-slab building, negotiated pricing more than 1% lower than incumbent lender
Value on Completion $4.2m
Burleigh Heads Queensland
Site acquisition and construction of a bulky goods retail centre
Value on Completion $8.5m
Neighbourhood Shopping centre
Acquisitioin, refurbishment and further development of shopping centre
Value on Completion $6m
Construction of a 9 storey residential development
Gross Realisation Value $25m