Otway stepped in to take over a distressed development project of 50 residential apartments “Echo” at 33 Simmons St, South Yarra

Otway bid for the Bendigo Health Care Group’s accommodation requirement to build 120 apartments and support facilities to house doctors working at the Bendigo Hospital 

Otway role was to be the principal financial advisor and transaction manager responsible for capital raising and delivery

Otway was successful in creating a 30 year triple net lease for the asset from the originally proposed 20 year net lease and has recently sold down part of our equity position to Qualitas and raised the construction finance for delivery

Construction was completed in April 2014 and the project was sold to New Zealand Super at completion

Otway successfully refinanced the existing debt facility for the underlying asset and raised the capital for first stage of a development financing and purchase take-out facility for a $490 million project in North Sydney.