Peet Limited

Transaction Residential Land Subdivision
Location South East QLD

CapStra’s role

CapStra was exclusively mandated by ASX-listed developer Peet Ltd to raise $50.0m in peak senior construction debt to facilitate the initial stages of ‘Flagstone City’, a 1,208ha large-scale residential estate in South East Queensland, delivering 11,785 dwellings over a 27-year period.


CapStra’s competitive market approach invited expressions of interest from major, second tier and non-traditional financiers to participate as the senior debt provider supported by first ranking security. In support of this process, CapStra provided a detailed information memorandum, conducted significant due diligence, secured a number of offers of finance and advised and managed the documentation process including satisfaction of condition precedent.


CapStra negotiated competitive terms from a non-bank lender to fund the transaction on terms that afforded the Borrower flexibility. The transaction required the lender to take a long term view on the South East Queensland residential property market and a peak debt position. The lender was impressed by the quality of the sponsor and JV partner and the quantum of equity that had been committed, while still maintaining acceptable return hurdles.

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