The newly launched Chifley Securities has scored its first big deal, worth $25 million, through a refinancing arrangement put together by receiver Jamieson Louttit, of Jamieson Louttit & Associates.
The refinancing of the debt is secured against two large commercial buildings at Ricketts Road, North Ryde in Sydney. One of the buildings is leased to 3M in a long-term lease.
Mr Louttit was appointed receiver of charitable trust Rosewood Research, set up in the 1940s, following legal action, and the refinancing was the result of Bendigo Bank’s withdrawal of ongoing support
The new non-bank finance group in the commercial property market was launched earlier this month, with an initial lending pool of $480 million.
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Finance veteran Dominic Lambrinos and the principals of Nationwide Capital, Domenic and Joe Morello, established Chifley as a commercial lending alternative to the main banks.
Read more: Sydney Morning Herald