Mezzanine Funding – Residential Townhouses
CapitalGroup provided mezzanine finance for the development of an eight-unit townhouse development in Northland, Wellington.
Capital Group invested funds for the following reasons:
All of the units were pre-sold with 10% deposits paid.
The developer had signed a fixed-price construction contract with a company that they had dealt with on recent developments.
The site was well located overlooking the Wellington Central Business District.