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Urgent Refinance Advisory to Prevent Mortgagee Sale

Time-critical debt structuring to stabilise a distressed industrial development and preserve project control.

Situation

A property developer faced an imminent mortgagee auction of an industrial warehouse development site located in Melbourne’s western suburbs. The asset was under mortgagee possession, with the auction scheduled to occur within one week unless a legally binding refinance approval could be secured.


The developer required an urgent capital solution to halt enforcement action, regain control of the asset, and stabilise the project for future development.


Complexity

  • Asset subject to mortgagee possession and imminent auction

  • No time available to commission a new valuation prior to enforcement

  • Requirement for a formal approval letter to legally stay the auction

  • Elevated execution risk due to distressed status and time constraints

  • Need to preserve future development and construction funding pathways


Role

Capital structuring and execution adviser, responsible for urgent refinance strategy, lender engagement, and transaction coordination.


What Was Done

  • Assessed enforcement position and time-critical legal requirements

  • Structured a refinance solution based on an “as-is” valuation framework

  • Packaged a detailed and lender-ready submission without a current valuation

  • Leveraged established lending partner relationships to facilitate rapid credit assessment

  • Secured a formal approval letter for a blended first mortgage facility at 72% LVR

  • Coordinated post-settlement valuation engagement to be assigned to the incoming lender

  • Supported the developer in stabilising the asset and removing external administration


Outcome

  • Mortgagee auction successfully halted prior to enforcement

  • Developer regained control of the industrial development site

  • Project stabilised with sufficient time to obtain building permits and restructure entities

  • Three months post-refinance, an $8 million construction facility secured to fund land refinance and construction of 12 industrial warehouses, supported by three pre-sales

  • Ongoing monitoring and stakeholder engagement maintained throughout construction


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