AFR: MaxCap Group Commercial Property Asset Manager
Incolink, the Victorian construction industry joint enterprise set up by employers and unions to administer redundancy payments, is moving into commercial property lending.
The organisation controls funds of around $600 million and will now invest some of that in mezzanine debt for property developments. As much as $50 million will be set aside for as many as five projects.
With debt more difficult to source since the global credit crunch, the Incolink loans will help get projects off the ground, creating opportunity for construction workers.