The Proposed New Modder X 5

Affordable housing

 

500 units three storey walkups situated in a high growth node, which will support the working force in the area.  Full bankable feasibility study completed, competent  professional team in place. Risk mitigation on rental default with credit guarantee insurance. 477x 50 m2 x 2 bedroom units with undercover parking and 23 x 34m2 x 1 bedroom units with undercover parking, security in complex, controlled access. The opportunity exists  for  a pref share investor or a hybrid structure with a combination of equity and pref shares.Great opportunity.

Property Summary

Junior and senior debt secure in principal with draft term sheet in place, level 1 BEE transition with favourable lending terms (20 year junior debt with JABIR +0,5 interest rate for first 5 years of the loan and15 year senior debt at prime +1 etc )

Annual Net Return
Perf Share Investor wanted 10 year IRR 9,2%  and 49% of the upside on offer

Project Phase
2 Phases over 25 moths.  250 units per PA


Documents

Additional documentation may be available per private request.

No documents publicly available.