Corsair Investment Management (“Corsair” or “the Company”), an Australian specialist real estate investment manager and financier, has announced two major transactions in Melbourne’s commercial property market.
Corsair has provided a debt facility over AU$60 million to Impact Investment Group for the completion of 54 Wellington. 54 Wellington will be a new workplace for a new generation that combines CBD access, transport links and sustainable design features in Melbourne’s thriving inner-north. Probuild is the appointed construction contractor.
The Company has also completed an AU$65 million debt facility against two strategically located commercial office buildings – one in Melbourne’s south-east and the other on St Kilda Road. Corsair was able to provide funding for this transaction within two weeks of being mandated.
Chris Moyle, Corsair Investment Management’s Chief Investment Officer, said: “Our confidence in the future of city-fringe office markets and the high-quality sponsors were key drivers for these investments.
“What is resonating with our customers is Corsair’s well-informed and hands-on approach to financing, combined with our ability to quickly grasp what our sponsors want to achieve. As borrowers know, the value of a quality financier is not just about getting access to funds, it’s about the service and timeliness throughout the whole relationship. In these latest transactions, we’ve proven our ability to quickly respond with tailored senior debt solutions with fast approval times.
“Our deal pipeline is active and we have investors at the ready who value Corsair’s ability to identify strong projects while understanding risk,” said Mr Moyle.
Paul Belcher, Director, Impact Funds Management Pty Ltd, said: “When we spoke to Corsair about our requirements, they responded with a solution that demonstrated they clearly understood what we needed and how best to provide it in a timely manner. Their team’s deep experience across the property and finance sectors and ability to think creatively is their greatest asset.”
Corsair Investment Management combines the Buxton family’s 150-year property heritage and deep industry knowledge with the senior finance leadership of former MaxCap founding partner Michael Fowler and former Westpac directors Robert Altson and Chris Moyle.
With strong growth in funds under management and a large capital base, Corsair’s independent and agile investment approach provides structured financial solutions to borrowers seeking alternative lending options and investors looking to manage risk in a volatile market. The fund caters to a broad range of development, investment and joint venture projects nationally, ranging from smaller inner-city townhouses to large scale residential and commercial schemes.