I was employed as the Project Manager for a $50m + apartment complex on Auckland’s North Shore. The project ran into a number of hurdles, including funding. Global Pacific were employed to arrange the facilities to complete the purchase of the properties, then introduce a development funder. At a time when the traditional Banks were pulling back on their exposure to the New Zealand development funding markets, Global were able to introduce an offshore funder enabling the project to proceed. They showed an ability to think innovatively, outside the gambit of a lot of this countries traditional funders, and acted in a professional manner. I would recommend them to other clients.
After being turned down by my bank and a number of other mainstream lenders, I asked Global Pacific to put together the funding to purchase two adjacent bare land blocks for subdivision. They swung the deal to a new lender and secured a six-month Cap Interest deal of approximately $3.7 million to settle both the land purchases. Further funding was also required to complete the seven-lot subdivision, enabling me to bring it to market. Upon completion but with minimal pre-sales and know 224c they managed to refinance the deal back to a new mainstream lender in record time and save us considerable penalty interest and additional costs. Global Pacific also provided ongoing strategic selling advice to generate section enquiries and pre-sales. We could not have done it without their professionalism and downright tenacity
In addition to introducing us to the appropriate lending partners for our development schemes, you have provided strategic advice to our Board of Directors and Advisory Committee, helping us to grow to become Auckland’s largest suburban apartment developer with a $500m GDV project pipeline.