For those who have the capital, deals in the property landscape are being done now, as the sector mounts a strong recovery from last year's pandemic shutdowns.
FundMKT, which brings developers and lenders together, is redefining how to source project funding in the commercial real estate sector.
Established to provide borrowers access to a vast range of lenders , FundMKT aims to deliver the best opportunity to secure funding for developments, cost-efficiently and fast.
Previously, the commercial real estate funding industry lacked an online presence—FundMKT has created an online marketplace where borrowers and lenders can secure and manage their project finance needs, while maintaining human interaction at its core.
It’s the first end-to-end marketplace of its kind in Australia.
With FundMKT, borrowers can tender their project funding requirements with multiple lenders efficiently. According to FundMKT, it has the ability to undertake either an open tender or a targeted EOI process to a select group of lenders.
During 2020, pandemic-related lockdowns prompted a retreat by major lenders from the commercial property development sector.
In fact, Covid-19 proved a catalyst for many changes in financial markets, as evidenced by the continued rise of non-bank lenders in Australia and other markets and the embracing of technology.
Now, as markets by-and-large show signs of recovery, swiftly in some cases, those with projects in the pipeline have a changed landscape for raising capital.
This plays into the strengths of FundMKT, which can resolve those pain points of building out capital solutions for developers.
By taking a whole-of-project view—equity and debt—FundMKT works with developers to optimise their capital stack, and works to optimise returns.
And by providing a “single source of truth”, lenders can quickly and accurately assess funding opportunities.
Excellent results are being achieved through the FundMKT platform, including higher LVRs and lower debt cover with competitive pricing, FundMKT co-founder Rowan Pollard said.
“FundMKT also ensures that time is spent efficiently, negotiating only with truly interested parties rather than meeting all possible participants,” he said.
Bridport Property Group’s Tom Shelton is a FundMKT client—and fan.
“FundMKT worked tirelessly to achieve funding solutions that exceeded our expectation,” he said.
With what has become a highly fragmented commercial real estate funding industry, it is impossible to identify and meet all lenders.
FundMKT ensures that multiple lenders can review an application simultaneously through the submission of a single online application, saving valuable time and money.
Currently, transactions are undertaken in an archaic and inefficient manner, which Pollard described as lacking transparency.
“This opaque process lengthens lead times which adds to finance uncertainty,” Pollard said.
FundMKT supports borrowers and lenders with all capital requirements including equity, mezzanine, construction funding and commercial real estate investment loans to ensure the correct funding solution.
Its range of lenders includes banks, non-banks, mortgage funds and family offices.
Because FundMKT allows borrowers to control the entire funding process, empowering borrowers to assess all funding solutions side-by-side and select the funding solution that best matches their requirements, it is perfectly placed to enable developers to take the front foot as we emerge from the Covid-19 slump.
A time of uncertainty is becoming a time of opportunity, and FundMKT can help realise that.
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