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.”
limits approved over the last twelve months were made up
• $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.