Residential Apartment Construction, Coogee NSW 2034

Vado Private provided funding for a development site with DA approval for a four story block comprising of seven residential strata title apartments in Coogee, NSW. The project completed in October 2021.

This loan delivered an IRR of 9.40% p.a. to investors, which represented a 9.25% p.a. margin over the average RBA Cash Rate over the corresponding period.

Key Deal Highlights:

• Facility Limit: $3,841,000

• Facility Type: Progressively Drawn First Mortgage

• Repayments: Capitalised for the loan term

• Loan Term: 15 months

• LVR: 57.50% of the ‘as-if complete’ value of the property