Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Property development financiers reach aggressive targets

11 April 2014

NZ’s leading property development financiers reach aggressive targets within first year

In their first full financial year, NZMS, New Zealand’s fastest-growing property financier, has achieved its number one goal.

The team set out to lend $100 million in their first year. With $96.7 million of approved limits at the end of March, they have achieved this aggressive target.

“Our first financial year as NZMS has been a success, although it hasn’t been without its challenges,” said James Kellow, Director of NZMS. “Post GFC, we saw the property market improving. We knew from outset that we needed a strong start to take a dominant position in the property finance market.”

“We are a nimble team with a shared desire to be New Zealand’s best property finance company. We are not scared off by large transactions and are financially capitalised so that we can fund the largest projects in the region.”

The funding limits approved over the last twelve months were made up of:
• $33 million of mezzanine funding towards the development of over 500 individual apartments, plus first mortgage funding on smaller apartment blocks.
• $18 million of total subdivision funding made up of more than 100 individual sections, including 49 at Jacks Point in Queenstown.
• $27 million of bridging finance and residential land banks.
• $9 million of commercial building bridging finance.
• $6.7 million townhouse funding.
• $3 million retail development funding.

“The plan is to continue on this upwards trajectory. We are aiming to break $150 million of lending limits in 2014 and $200 million by end of 2015,” said Kellow.

For more information, please visit www.nzms.com.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Net Annual Migration Passes 71,000

A record 71,300 more migrants arrived in New Zealand than left in the January 2017 year, Statistics New Zealand said today. This surpassed the previous annual record set in December 2016. More>>

ALSO:

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news