Venerdi Finance provided advice to a boutique apartment project developed in Milton, Brisbane through a joint venture with two local and one interstate party.
The development has 49 apartments over 10 levels and two basement levels for resident and visitor parking. There are 35 two bedroom apartments and 14 one bedroom apartments.
The inner city location offers a great lifestyle neighbourhood and close proximity to the Brisbane CBD.
Venerdi Finance was engaged as a consultant to assist with the drafting and negotiation of the joint venture agreement, equity loan documents and development management agreements. Venerdi Finance drafted the initial documents, managed comments from all parties, chaired meetings to mediate and resolve issues and instructed lawyers to draft the final documents. Venerdi Finance also assisted with the senior debt negotiation and establishment of the construction finance. Venerdi Finance approached 4 banks with a detailed finance submission, provided comparisons and feedback to the Borrower who ultimately selected the preferred financier.