HABEN FINANCE NO. 1 TRUST (HF1T)
Fund concluded in December 2017, being on time and on budget.
‘Allure’ – a 61 unit development in the Sydney suburb of Ryde. At loan commencement, 95% of the units had been pre-sold, prior to Fund commencement.
Offering debt cover of at least 1.5 times, in addition building works had commenced taking out ground risk. Given the great security and debt cover, Haben (with its strong background in development) felt this was an opportunity worth pursuing.