The borrower is a property developer who has recently completed the 56 unit, development at, East Perth, WA.

Construction of the Apartments was financed by a non-bank lender from the Eastern States. Due to the onerous fees structure imposed, the Group requested a more competitive finance package from Platinum to complete the final stages of the sales-process and to initiate a possible future funding relationship.

The loan was repaid via cash flow from the fourteen pending settlements, sales of the six unsold units and refinance of the twelve residual units by a mainstream bank.