Mezzanine Funding – Bridging Loan
CapitalGroup was approached by a developer who was undertaking a private plan change which would see the zoning of a large land block on the periphery of Auckland change from rural to residential.
Capital Group invested funds for the following reasons:
The highly experienced development team with a strong track record of delivering projects.
Extensive legal advice in respect of the private plan change process.
Commitment from a trading bank to fund the development following approval of the private plan change.
Strong development proposition for the property following the private plan change approval including presales and engagement of a contractor.