Equity Co-Investment – Residential Apartments
CapitalGroup was approached to assist with acquisition of land and subsequent development of a five level apartment project in a popular Auckland location.
Capital Group invested funds for the following reasons:
The site was well located in a prime Auckland location.
The development partner was known to CapitalGroup with a strong background in property.
Strong planning advice was received indicating a resource consent could be achieved for the proposed development.
Significant early interest was shown from potential buyers and the forecast apartment prices were supported by a valuation.
Project costs were estimated by reputable engineers and reviewed via a quantity surveyor with an existing relationship with CapitalGroup.
A well respected construction company was involved from the early phase.