Equity Co-Investment – Residential Apartments
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.
CapitalGroup assisted by providing funding in the early phase to allow the development partner to acquire the land, obtain a resource consent, enter into a construction contract and achieve sufficient presales prior to bank funding being available.
Capital Group invested funds for the following reasons:
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01
The site was well located in a prime Auckland location.
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02
The development partner was known to CapitalGroup with a strong background in property.
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03
Strong planning advice was received indicating a resource consent could be achieved for the proposed development.
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04
Significant early interest was shown from potential buyers and the forecast apartment prices were supported by a valuation.
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05
Project costs were estimated by reputable engineers and reviewed via a quantity surveyor with an existing relationship with CapitalGroup.
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06
A well respected construction company was involved from the early phase.
