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21 November 2007
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Joint Venture Opportunities in the Current Market
Hi John,
In the last GLOBAL UPDATE I talked about the changes that have taken place in the current property financing markets. To see the article, CTRL + click here
The response to this newsletter has been quite extraordinary and I’ve commented further on the strategy required to obtain finance in this market in the last few paragraphs of the November GLOBAL VIEW. To quote -
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In the commercial property finance markets funds for property developments with capitalised interest or without resource consent and pre-sales, have virtually dried up. As have funds for investment properties without strong leases.
The focus has changed. No longer are simply low loan to valuation ratios enough to attract finance. Now far more lenders are saying no to proposals that cannot show how the borrower can service the debt and how it will be repaid. And don’t expect your existing financier to automatically roll over loans that are due for repayment – they may not.
If finance of any kind is required, albeit commercial, industrial, rural, business, or development finance don’t leave it until the last moment and expect it to just happen – it won’t. If it is outside the restrictive criteria of the mainstream banks then the correct planning, packaging, documentation, and presentation with a sufficient lead time, is vital. |
I’m also receiving requests for more information about joint venture opportunities we have available, so we’ve put up a new page on our web site to list some examples. To view this new page CTRL + click here
Note that no where near all of these types of opportunities are listed on the web site. Also the method of participation in these ventures is usually open and subject to negotiation. So if you’re interested in discussing the options available respond to this email or give me a call.
Cheers
JP
John Paine
Global Pacific Corporation Limited
112 Gladstone Road, Parnell,
P O Box 3229, Auckland, New Zealand
Phone +64 9 303 3700, Fax +64 9 303 3031
Mobile +64 21 902 004
Email john.paine@globalpacific.co.nz
Web site www.globalpacific.co.nz
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