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Sponsored ContentPartner ContentTue 02 Jul 24

Zagga Funds RNB Group’s Luxury Rose Bay Project

Leading real estate private credit manager Zagga will provide a senior loan facility to boutique developer RNB Group for the construction of an ultra-luxury residential complex overlooking Sydney’s Rose Bay.

The Vue le Pont development is a multi-level building designed to the highest standard, with views of Sydney Harbour, the Bridge, and the City.

The project will consist of two full-floor three-bedroom, 3.5-bathroom and two four-bedroom, 4.5-bathroom full floor apartments over basement parking.

It is expected to garner appeal from locals, expats, and high-net-worth international buyers, who are looking for ‘lock-up and leave’ right-sized product within the local neighbourhood.

Vue le Pont Apartments Rose Bay Sydney Zagga Credit

Zagga director, investment and risk, Tom Cranfield, said the deal was an attractive one for the firm.

“We are pleased to be providing funding for an acclaimed developer who has engaged an award-winning design and construction team of MHN Design Union and Fleek Constructions.

“The development is in a tightly held location and its enviable position and small number of units is set to create strong buyer demand.” 

The sponsor had a strong record in comparable projects, Cranfield said. 

“RNB Property Group has successfully delivered several ultra-luxurious developments throughout the eastern suburbs of Sydney.

“Their depth of experience and continued success has provided them with a deep understanding of what buyers expect in terms of design requirements, amenity, finishes, sizing and location.” 

Zagga lending Vue le Pont Apartments Rose Bay Sydney

At an attractive loan-to-value ratio and providing a first mortgage as security, Mr Cranfield said that senior loan transactions such as this were popular with the firm’s investors. 

“Our investors want opportunities that deliver strong risk-adjusted returns. This is why it is important for us to work with sponsors who have a strong track record, on projects that have been set up for success in terms of location, design and amenity.

“The Rose Bay Vue de Pont development meets all our criteria, and we are pleased to be partnering with RNB Property Group on it.’

Zagga Vue le Pont Apartments Sydney Rose Bay Lending

RNB Property Group’s Ronnie Shulkin said there was a deep market in Sydney, and particularly the eastern suburbs, for this type of project.

“Having spent over 20 years developing luxury projects in this area, we know there is unmet demand from discerning buyers looking to ‘right-size’ but they often come up against low supply of suitable properties.

“When a site like this becomes available, we know that with the right design, buyers will respond quickly.”

Vue le Pont Apartments RNB Group Rose Bay Sydney Lending.

Selecting the right funder was key to project success, Shulkin said.

“We are pleased to be working with a funding partner with such a strong commercial approach.

“Zagga understands the fundamentals of our project and has provided efficient access to capital that will get construction moving rapidly, thereby maximising our return on investment.

“We see the value in working with a private credit provider who can move more nimbly than traditional bank sources. We look forward to seeing this exciting, luxury project come to life.”



The Urban Developer is proud to partner with Zagga to deliver this article to you. In doing so, we can continue to publish our daily news, information, insights and opinion to you, our valued readers.

ResidentialSydneyNew South WalesProject
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Article originally posted at: https://theurbandeveloper.com/articles/zagga-funds-rnb-group-s-luxury-rose-bay-project