
On a 12 month rolling basis, the Fund achieved an investor return of 10.69% p.a. net of fees as of December 2024. Currently all of the investments within the Fund are first mortgage facilities secured against real assets located in Sydney and Brisbane. The overall average portfolio loan to value ratio (LVR) is 64.45%.
In the December month, the Fund received full repayment from a senior construction facilityy secured by a $16,000,000 residential land subdivision. Capitalised interest from this investment for the full term has been paid to investors through one lump sum distribution upon maturity in December. In addition, the Fund has seen another senior construction facility reach stage one completion of a $24,000,000 residential land subdivision. Both projects have achieved more than 60% of sales during the construction period on the back of growing demand for house lots in the capital cities. The Fund will participate in the senior residual stock facilities for both projects. These two case studies demonstrate Labassa’s ability to manage investment risks through deepening our knowledge on the project and the area by funding the entire project life cycle. Labassa as an experienced project financier has been able to secure on-going pipeline opportunities for investors through established working relationships with endorsed project sponsors.
Labassa’s project pipeline in December 2024 was $228 million, encompassing 19 projects with an average facility value of approximately $12 million each.
If you would like to receive a copy of the latest newsletter, please enter your details into the Insights form below.