The tip of the iceberg?

Discussion in 'Property Market Economics' started by Scott No Mates, 3rd Aug, 2019.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    18,021
    Location:
    Sydney or NSW or Australia
    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.
     
  2. Silverson

    Silverson Well-Known Member

    Joined:
    11th Jun, 2016
    Posts:
    667
    Location:
    Melbourne
    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.
     
  3. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    4,998
    Location:
    The beautiful Hills District, Sydney Australia
    The next 1-2 months
     
  4. [d4rk-fr3d]

    [d4rk-fr3d] Well-Known Member

    Joined:
    9th Jul, 2019
    Posts:
    118
    Location:
    NSW
    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.
     
    Brickbybrick likes this.
  5. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    18,021
    Location:
    Sydney or NSW or Australia
    Sounds like Ralan weren't travelling well back to 2014 - Linky