This article is from the Australian Property Journal archive
PRIVATE credit asset manager Global Credit Investments (GCI) has launched its real estate capital solution, under the guidance of newly appointed managing director, David Stone, and which will aim to leverage Australian real estate assets to deliver flexible credit solutions to business owners, property investors and property developers.
The real estate offering includes refinancing, property and business acquisitions, bridging finance and equity releases. It will work closely with clients who fall outside the requirements of Tier 1 bank funding, with solutions “expertly crafted to help avoid the delays and restrictive covenants often associated with larger banks and non-bank lenders”.
GCI’s real estate team focuses on loan facilities ranging from $10 million to $50 million, with short to medium terms of up to two years. The company’s accepted security includes residential, industrial, commercial, and retail property as well as development sites. Currently, GCI is not doing construction loans.
Stone’s appointment brings nearly two decades of experience in the property sector to the team. He most recently served as CEO of a family office, where he spearheaded operations with a core focus on private credit and exposure to real estate transactions. Prior to this, David held senior property finance roles with ING and St George.
“The introduction of our real estate platform bolsters our capability to help clients unlock the transformational power of private credit,” said Gavin Solsky, GCI co-founder and managing director.
“David’s appointment comes amid ongoing demand for private credit in Australia, driven by increased banking regulation and a desire by growing businesses to secure flexible, pragmatic financing solutions.”
Stone said, “Our real estate deal proposition is unique in its approach. We source first mortgage opportunities across most real estate asset classes on the east coast of Australia. The team work closely with borrowers when assessing transactions, so we have a clear and defined purpose of funds, an in-depth knowledge of the proposed real estate collateral and an understanding of ‘the end game’.”
“Ultimately, our goal is to collaborate with borrowers to ensure a mutually beneficial journey toward success.”
Australia’s private credit market reached $133 billion in 2021, showing 21% growth over the $109 billion recorded at the end of 2020, according to Ernst & Young (EY).
