ACTIVE TRANSACTIONS
Our active loan portfolio shown below demonstrates the breadth of transactions we support, from land banking and construction finance through to bridging loans, equity releases and residual stock facilities.
We assess each loan opportunity on its unique merits, and our approach is centred on understanding the Borrower's objectives, the quality of the underlying security, the experience of the sponsor, and the proposed repayment strategy.
We pride ourselves on building relationships, and many of our Borrowers return to Pillarview across multiple projects, reflecting our commitment to supporting clients and their needs across the different stages of their development projects.
The case studies below also demonstrate our flexibility to consider lending scenarios that may fall outside the criteria of traditional lenders, including funding construction facilities without mandatory presales where appropriate, and projects requiring fast, commercial decision-making.
north brisbane
Loan Limit: $4,142,500
LVR: 71% of as-if-complete
Security: First Mortgage
Term: 9 months
This progressively drawn construction facility assisted an experienced property developer with the delivery of an eight-lot residential subdivision in Joyner, Queensland.
The facility represented 71% of the project's as-if-complete value, reflecting Pillarview's confidence in the Borrower's experience, the capability of the civil contractor, and the strong demand for the completed lots in this high-growth residential area.
Consistent with Pillarview's flexible approach to development finance, the loan was provided without a presale requirement.
The Borrower will market the completed lots during the loan term, with repayment to be made from sale proceeds upon completion.
north brisbane
Loan Limit: $2,124,000
LVR: 75%
Security: First Mortgage
Term: 6 months
This land banking loan assisted an experienced property developer specialising in the delivery of affordable housing projects.
The facility funded the acquisition of two adjoining residential properties, providing the Borrower with sufficient time to obtain development approval for a proposed townhouse development.
A six-month loan term was structured to align with the planning process, with repayment to be made through a construction facility once the project was ready to proceed.
sunshine coast hinterland
Loan Limit: $5,708,000
LVR: 65%
Security: First Mortgage
Term: 6 months
This residual stock loan was secured against a newly completed luxury residence in the Noosa Hinterland.
Pillarview had previously funded the construction of the home and provided this short-term facility following completion to allow the
Borrower sufficient time to obtain the relevant completion certificates, market the property, and achieve an orderly sale.
The loan is to be repaid from the proceeds of the property's sale.
Inner Brisbane
Loan Limit: $2,135,000
LVR: 70%
Security: First Mortgage
Term: 15 months
This loan provided an equity release against an unencumbered commercial property.
The Borrower, an experienced builder, required additional capital to fund their equity contribution towards a separate property development financed by another lender.
The loan term was aligned with the construction facility for the development, with repayment to be made from the proceeds of the completed project.
sunshine coast Hinterland
Loan Limit: $2,810,000
LVR: 70% of the as-is value
Security: First Mortgage
Term: 18 months
This is a first mortgage loan against a large rural residential site in the Sunshine Coast hinterland, which refinanced existing first- and second- mortgage loan facilities that the Borrower had used to purchase and subsequently build on the site.
It is the Borrower’s intention to begin a commercial medicinal cannabis operation on the site.
It is intended that the Pillarview loan will be repaid with a loan from a mainstream lender once the operations are under way in 12-18 months’ time.
north brisbane
Loan Limit: $4,200,000
LVR: 74%
Security: First Mortgage
Term: 7 months
This land banking facility continued Pillarview's support of an experienced developer specialising in the delivery of affordable housing projects.
The loan assisted with the acquisition of two residential development sites, each comprising the amalgamation of two neighbouring residential properties.
One of the sites adjoins an earlier acquisition funded by Pillarview, creating a larger 3,200m² development site with dual street frontage, while the second site will be developed in parallel with a similar end product.
The loan term was structured to provide sufficient time to obtain development approvals before refinancing the facility with a construction loan.
North brisbane
Loan Limit: $2,540,455
LVR: 75%
Security: First Mortgage
Term: 9 months
This progressively drawn construction loan funded the delivery of a seven-lot residential subdivision, continuing Pillarview's support of the Borrower following an earlier land banking facility that assisted with the acquisition of the site.
During the initial loan term, the Borrower obtained the required development approvals and finalised the civil construction contract before returning to Pillarview for construction funding.
Recognising the strong demand for the completed lots in this high-growth area, the facility was provided without a presale requirement.
The loan is to be repaid from the sale of the completed lots.
Greater
Brisbane
Loan Limit: $8,543,000
LVR: 75%
Security: First Mortgage
Term: 15 months
This progressively drawn construction loan assisted with the development of six residential duplex buildings, comprising 12 dwellings total.
Pillarview funded the subdivision of the parent parcel into six freehold lots together with the construction of each dwelling.
The Borrower, an experienced builder, undertook the project as an owner-builder with a 15-month loan term providing to allow sufficient time to complete the project, market the finished product, and repay the facility from sale proceeds.
Unlike many traditional construction lenders, the facility was provided without a presale requirement, giving the Borrower greater flexibility throughout the development.
NORTH Brisbane
Loan Limit: $5,452,295
LVR: 75% of as-if-complete
Security: First Mortgage
Term: 12 months
This progressively drawn construction facility continued Pillarview's support of a repeat Borrower, funding the delivery of a 14-lot residential subdivision in Morayfield.
The Borrower specialises in small-scale subdivisions in high-demand residential areas and has successfully completed and repaid previous development loans with Pillarview.
Consistent with Pillarview's flexible approach to development finance, the facility was provided without a presale requirement.
The loan is to be repaid from the sale of the completed lots.
gold coast hinterland
Loan Limit: $4,095,000
LVR: 65%
Security: First Mortgage
Term: 18 months
The subject property is a 26,000m2 balance land residual lot, following the development of a childcare centre on the parent site. The site was unencumbered and Pillarview provided a loan to release equity which the Borrower is to use to assist with the construction of 9 residential dwellings on the security property.
The loan was provided as a fully-drawn advance, rather than a progressively drawn construction loan. Pillarview was comfortable with this arrangement as the gearing level against the as-is valuation was acceptably low, and on account of the Borrower's financial position, with ability to service interest on the debt.
This arrangement was of great benefit to the Borrower as it provided flexibility and cost savings compared to a conventional construction loan.
north brisbane
Loan Limit: $1,953,400
LVR: 75%
Security: First Mortgage
Term: 9 months
This progressively drawn construction facility continued Pillarview's support of a repeat Borrower, following funding previously provided for other residential subdivision projects.
The loan is funding the development of a five-lot residential subdivision in the same high-growth area, with the facility provided at 75% of the project's as-if-complete value and without a presale requirement.
Recognising the Borrower's longer-term development strategy, the completed lots are intended to be retained for the future construction of rooming accommodation.
The loan is to be repaid upon completion through refinance with a subsequent construction facility.
south brisbane
Loan Limit: $560,000
LVR: 19%
Security: First Mortgage
Term: 7 months
This loan provided a cash advance to an owner-builder to assist with the completion of a luxury five-bedroom residence that was already under construction.
While partially completed residential projects can present challenges for traditional lenders, Pillarview was able to provide funding, recognising the Borrower's progress to date and the conservative gearing of just 19% of the property's as-if-complete value.
Upon completion of the home, the facility is to be repaid through refinance with a mainstream residential lender.
GREAter
Brisbane
Loan Limit: $1,365,000
LVR: 65%
Security: First Mortgage
Term: 15 months
This land bank facility assisted with the purchase of an 8,000m² infill residential development site in an established residential suburb.
The Borrower required an urgent settlement after being let down by another lender at the last minute, and Pillarview was able to assess, approve, document and settle the facility within just eight days of the initial application.
While the Borrower was relatively new to property development, they had engaged an experienced development management consultancy to oversee the project.
Pillarview was comfortable with the conservative gearing and the quality of the underlying asset, providing funding to facilitate the site acquisition while development approvals and pre-construction activities were completed.
The loan is to be repaid through a construction facility once the project is ready to commence.
North Brisbane
Loan Limit: $862,500
LVR: 70% of as is valuation
Security: First Mortgage
Term: 3 months
This short-term land banking loan assisted the Borrower with the purchase and settlement of a development site.
At the time of settlement, a development application for a 7-lot subdivision had been lodged but was still awaiting council approval, meaning the project was not yet ready for construction finance.
Pillarview provided interim funding to enable the acquisition of the site, with the loan to be repaid through a construction facility once the development approval had been granted and all conditions for construction finance had been satisfied.
Lockyer valley
Loan Limit: $1,527,500
LVR: 65%
Security: First Mortgage
Term: 12 months
The Borrower is a highly experienced civil contractor, who are well-known to Pillarview. The loan was provided to assist with the purchase of a rural residential development site, which benefitted from a development approval for the subdivision into 31 acreage lots.
The Borrower had submitted a minor changep to provide a higher yield of 34 lots, and a more straightforward design, aimed to reduce construction costs.
We provided a loan at 65% LVR against the valuation, and a 12 month term to provide sufficient time for the minor change to be approved by council, and for the Borrower to obtain operational works approval, after which time the loan is to be refinanced with a construction loan to complete the proposed subdivision.