The tip of the iceberg?

Looks like a few of the larger unit developers are starting to get the cobbywobbles and fall over:

Ralan
Ralan #2
Ralan & Steller
Ralan & Brighton (Brighton is not faultering/just a profit warning/collateral damage)
Ralan AFR Paywall - interesting to note that on a $1.6B project there is only a debt of $500M but it sounds like there is difficulty in securing the on-going unsecured mezzanine finance.
Steller AFR Paywall
Steller

It'd be interesting to hear the opininon of the commercial mortgage brokers out there as to what may be exacerbating the rise in larger collapses considering that these ones hurt the lenders compared to the piddly sub-$10M issues.

 

It's going to get worse before it gets better.
i expect to see afew more of these stories surfacing over the next 1-2years.

 

The next 1-2 months

 

and what would be the solution for the unlucky investor who already invested at least 10% of their deposit?

I guess they can just cut it as stop loss :-| rather than holding it with the potential to become another Opal, Mascot, Zetland apartment towers.

 

Sounds like Ralan weren't travelling well back to 2014 - Linky

 

Reviving the Ralan thread. It's finally made it to court.

https://www.theurbandeveloper.com/articles/ralan-boss-pleads-guilty-to-fraud