Out of this completion, we estimate approx $12 billion in FIRB sales needing to settle in 2016 and more than $14 billion in 2017.
We have been interested to already see an increase in inquiry from developers for finance of residual development stock(FIRB).
Stamford has access to competitively priced capital that has appetite to finance completed residential stock to:
1. Allow developers to clear their construction debt; and
2. Release equity tied up in completed assets for future acquisitions.
We would welcome the opportunity to speak with any client about refinancing any residual stock or any property finance need in general.
Domenic Lo Surdo can be contacted on (02) 9046 8902 should you have any about development financing.
The content in this paper is intended only to provide a general overview. It is not intended to be comprehensive nor does it constitute financial or legal advice. You should seek professional advice before acting or relying on any of the content.