MaxCap Group (MaxCap), a leading CRE debt investment manager has partnered with one of Australia’s preeminent superfunds to deliver one of the largest single construction funding facilities in Australia in 2018.
The construction facility was to finance iconic development Park One, which is a mixed-use development comprising 412 residential apartments, a retail component, rooftop terrace and an integrated private park.
Commenting on the transaction, Mr Eddie Law, Investment Director said, “we are delighted to support this development in one of the NSW Government’s Priority Growth Precincts. Golden Age Group (Golden Age) is one of Australia’s leading private developers with an extensive portfolio of hospitality assets and successfully completed mixed-use developments in Melbourne and Sydney.”
Mr Jeff Xu, Founder and Managing Director of Golden Age said “MaxCap has been a key partner throughout our exponential growth journey. We have recently successfully completed and repaid the same superfund from our Waterloo project in Sydney. We are delighted they have continued their commitment to us for the Macquarie Park project.”
Mr Wayne Lasky, Managing Director MaxCap said “Institutional capital is beginning to flow into the Australian CRE debt market which offers strong risk-adjusted returns – an investment strategy that is increasingly carving its place as a stand-alone asset class in institutional portfolios.”