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

 

Drones: First Certificate Issued Under New UAV Rules

Transport Minister Simon Bridges and Associate Transport Minister Craig Foss say the first certified flight of an unmanned helicopter under new aviation rules is a great example of how they can enable commercial use. More>>

ALSO:

GE Swedes And Cow Deaths: Plant Analysis Backs Up Earlier Advice

The industry body is recommending that farmers do not feed Herbicide Tolerant (HT) swedes to cows in spring when the animals are in late pregnancy or early lactation. DairyNZ is also advising caution if farmers are considering other leafy varieties. More>>

ALSO:

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news