Midland Megaplex oversubscribed
Lester Group’s new Midland Megaplex Trust has closed oversubscribed having raising $33.6 million in one week.
“We are delighted at the quick take up of this offer, and appreciate the support of our co-investors”, said Executive Director, Russell Lester.
In addition, ANZ Bank have offered a debt facility at margins well below our feasibility projections, potentially further increasing the returns to investors. “Clearly this is the type of property ANZ wish to bank”, said Russell.
Lester Group looks forward to settling the property and moving on to find the next deal.
“It will be hard to find one as good as Midland Megaplex”, said Russell.
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