CASE STUDY #2 – PROJECT ORPHIC

 Project Orphic impression

After engaging with numerous funding originators without success the Sponsors of Orphic were referred to the team at Lighthouse Corporation Capital.

The subject site was a corner block with permit for a multi-use, five story, fifty apartment building, that also comprised a double basement.  The design was quite intricate with a high level of detail and premium level of finishes, far exceeding those typical of the demography.

The principal objective was to secure a construction facility with sufficient flexibility and economy to afford an extra high gearing ratio at over 93%, with a Sponsor adamant to provide an unprecedented level of luxury in an outer metropolitan suburb.

Our finance team undertook the following fundamental program:

1. Preparation of Sponsor presentation file
2. Collation of Sales & marketing Data
3. Construction cost assessments
4. Prepared detailed financial modelling including project feasibility study and cash flow program
5. Collaboration with industry experts within the asset class was undertaken at length
6. Managed and coordinated communication between stakeholders including the, funder & financiers (plural), independent builder, and solicitors
7. Liaise with appropriate funders about the requirements of the capital stack most appropriate to the Sponsor
   1. Identify, negotiate and secure senior debt funders
   2. Identify, negotiate and secure secondary debt funders
   3. Identify, negotiate and secure tertiary debt funders
8. Participate in the tertiary funding through subsidiary company, Lighthouse Equity
9. Identify and liaise with specialist sworn valuers with expertise relevant to this asset class, with good repute, acceptable to and on the panel of suitable funders
10. Secure funding offers tabled for Sponsor.
11. Ongoing review and reporting to Funder as construction progresses as may be required
12. Objective achieved!

Funded through Lighthouse Corporation (Capital) PL

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