A developer had completed the construction of 195 apartments. Prior to this approximately 150 apartments were pre-sold leaving the remaining 45 apartments unsold.
The developer was able to repay the majority of their construction facility with the existing pre-sales, however several of these pre-sales were to FIRB approved buyers and would require additional time to complete settlement. Further to this the developer was wanting to release part of their equity within the unsold apartments to complete the purchase of a new project site.
Dorado provided a first mortgage funding solution secured over the unsettled and unsold apartments. Proceeds from the Dorado loan went toward repaying the remaining balance of the construction loan and to the developer to purchase a new project site. The Dorado facility remained whilst the developer marketed and sold the remaining apartments.

A developer was underway with an over 55’s lifestyle development.
The developer had commenced civil construction works on a project prior to settling on it, but required a first mortgage loan to settle the land and contribute to further construction works in the first and second stages. The nature of the project made it difficult to obtain senior lender finance.
Dorado applied its experience and expertise to assess the quality of the pre-sales together with fully understanding the feasibility and viability of the project. This enabled a first mortgage solution to be put forward, which allowed the project to proceed in a timely manner.

An experienced developer was looking to settle on a large piece of land in a unique location.
The development was yet to achieve planning approval and did not have the requisite pre-sales that a senior bank would require.
Dorado worked with the developer to understand how the proposal sat within the local planning guidelines and assess their marketing proposal to sell the completed lots as house and land packages. As a result, Dorado enabled the developer to settle on the site and commence civil works.

A developer was finalising a development application for an integrated medical facility and childcare centre.
As the developer had a relatively limited track record and was yet to secure any pre-sales or re-leases for the medical facility, senior bank funding was not a viable option to assist with the settlement of the site in an outer suburb of Melbourne.
Dorado undertook a review of the project and, being located within a key growth corridor which has seen both considerable population growth and residential development in recent years, recognised its potential. Following our comprehensive due diligence process, Dorado assessed the project’s viability and drew upon our previous funding experience within the healthcare and childcare sectors to provide first mortgage funding to the developer.