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MaxCap provides Construction Finance Facility to Neometro

May 4, 2020
MaxCap provides Construction Finance Facility to Neometro

Melbourne, 5 May 2020 – MaxCap Group, Australia’s leading commercial real estate debt specialist, is proud to announce the closing of a construction finance facility for Neometro’s development located in inner-city suburb, Brunswick.

Neometro, an award-winning developer with more than three decades of experience specialises in the development of design focused, higher-end residential projects. To date, the Company has developed in excess of 300 apartments, in the highly sought-after suburbs of Fitzroy, Brunswick, South Yarra and St Kilda. Neometro is one of the most established and trusted players in the Melbourne apartment market.

Commenting on the project, Brae Sokolski, Chief Investment officer said: “MaxCap has a strong relationship with Neometro having partnered with them on previous projects. We remain committed to funding quality borrowers with stand-out real estate backed security.”

James Tutton, Neometro Director said: “These are clearly interesting times in the market. MaxCap’s steadfast approach to sticking by its clients is a testament to the integrity, capability and depth of skills within the organisation.”

Less than 5km north of Melbourne’s central business district,17 Union Street is a sustainable 7-star energy rated, mixed-use development comprising of 39 residential apartments, two ground floor retail units and a rooftop garden. The site is close to retail, hospitality and educational institutions and is located directly opposite Jewell Train Station.

Neometro was the first property developer in Australia to obtain ‘B Corporation’ certification – a globally recognised accreditation that reflects a company’s commitment to operating in an ethical and transparent manner and delivering positive social and environmental outcomes.