FV by Gurner

Fortitude Valley Brisbane
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Overview:

MPFM and co-investors provided Mezzanine financing (capitalised) for this mix use, high rise development of 651 apartments and 4,000 sqm of retail, with a total gross value of $350 million, by BRW Richlister Tim Gurner, for his development company Gurner TM

Risk Mitigation:

Pre-sales fully covered our principal and interest. The quality of the - development and professionalism of the Sponsor ensured a successful completion of the project amidst increasingly difficult market conditions.

Investment Partners:

Co- investment with Thakral Capital Australia (TCAP), Construction by Multiplex, Senior Debt ANZ. Other investors in the project included global Fund Manager Apollo and Australian domestic Fund Manager Maxcap.

Investment Term:

Investment fully repaid November 2018.

IRR: 21%

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