COMMERCIAL real estate debt financier MaxCap has provided a land and first mortgage construction facility to land developer KDL Property Group for their Rosebank Estate project.
The $25 million facility will fund the site acquisition and construction of the project, located in Queensland’s prime growth corridor of Logan Reserve.
MaxCap’s Queensland state director Michael Nitschke said this represents the ideal project for the group to continue pursuing quality residential land sub-divisions in south east Queensland.
MaxCap has invested more than $12.3 billion across more than 450 loans and investments since inception in 2007 and currently has $4.1 billion of funds under management.
With significant infrastructure investment underway and demonstrated market acceptance of neighbouring developments, Rosebank Estate continues to impress with strong demand from first home buyers.
“We are proud to have the support of MaxCap for our Rosebank Project in Logan Reserve. Like every KDL project, it is paramount we work with experienced professionals that align on our vision. With the current industry landscape presenting new challenges, MaxCap Group’s flexible solution allows us to be agile as we continue to deliver on our promise to develop quality communities,” KDL managing director Kent Leicester said.
“With Rosebank now under construction and number of new projects to come to market in 2022 and beyond, we envision this is only the first of many ventures with MaxCap Group.” Leicester said.