Phoenix identified a key investment opportunity by being the
junior lender to a Sydney-based developer with over 50 years’
experience in residential projects, for funding a residential and
retail development in Carlingford, which already backed by a
successful presale campaign.
Located in Carlingford, a mature suburb close to Sydney’s second
major CBD of Parramatta, the development comprises 191 residential
units and 4,305 sq. ft. of ground-floor retail space. Several
elite schools are situated in the neighborhood, including The
King’s School and James Ruse Agricultural High School. Also,
Parramatta Westfield and recreation parks are close by.
Phoenix structured a junior loan for the developer, the project
was substantially pre-sold before financial close, providing a
high degree of debt coverage. The investment was fully repaid
after the successful completion of the project.
