Some of you who have been keeping up to date with our blogs and vlogs are probably wondering what exactly it is that we do? What types of clients are we dealing with and therefore, how can we help you? That’s fair enough as well. The last few months have been a whirlwind both globally and in NZ and as a result, we’ve spoken about a huge variety of topics.
Given that, I thought I would share a bit about what we’re up to because there is a myth out there that people aren’t doing anything. That lenders have all shut up shop, people aren’t trading properties and developers, investors and businesses are all sitting on the sidelines. Contrary to that, however, we’ve been working on some awesome transactions and through that process have managed to help people get funding and, in some cases, save a lot of money.
This is Ben’s bread and butter. Right now, he is arranging capital for three social housing developments. These are at different stages of the process, two have secured bank finance and the third is currently in the market. These are of similar scales with asset values of c$9,000,000.00 and gearing around 60% of on complete value. One of the three requires an equity investor and Ben is also helping to find that party.
All three will be held as investment assets on completion and Ben has been actively engaged through the entire development process on two of these helping to arrange the appropriate professionals and assisting in arranging the lease with the Charitable Housing Provider.
Ben is also working with two parties closely on finance for Hotel Developments finding both bank debt and equity for these. Naturally things have taken a bit of a turn in this market providing greater challenges but both are proceeding well.
Ben also does quite a bit in this space and has currently found bank finance to complete the purchase and recapitalisation of two businesses in the construction industry. This lending was secured against the forward cash flow of the business with no landed security provided and will allow each to trade through this current period and grow from there.
There is a lot going on in this space given the market. In the last few weeks I’ve secured finance for a large residential property investor to help him restructure and refinance a portion of his portfolio. This restructure freed up cash to be able to buy more and develop his existing assets. At the same time we saved the client over 1.5% on his interest rate!
We work closely with investors of all shapes and sizes in this space frequently looking at structuring transactions for consolidation or growth with a focus across both residential and commercial assets.
First Home Buyers
It’s not all about the size of the deal. We’re also looking after first home buyers and existing homeowners. Helping them secure finance for a new purchase or negotiate their refix with their current bank.
As you can see, there’s a lot going on. The reason for this blog isn’t to blow our own trumpet, it’s to give you a bit more understanding about why you should deal with Lateral Partners. It’s also to show that despite all the doom and gloom in the media, there’s positive stuff happening. Buyers are still buying, sellers are still selling and banks are still lending.
So, if you’ve got finance requirements, big or small – get in touch.