Work

Project Gateway

Strategic land investment with town planning value enhancement strategy, NSW.

Role: Lenders technical representative on a structured debt and equity transaction of approx $30m. Complex town planning matters involving density, flood engineering and remediation. Ongoing.

Project West

800 town home development on former industrial site.

Role: Project director overseeing strategy and delivery. Part of a wider precinct the rezoning process was languishing. We established a new strategy and in consultations with the state planning authority, the site was rezoned within 18 months, unlocking 3,000 dwellings. The owner, wanting to realise immediate value while retaining a long-term interest, was looking for a sale solution. Following an exhaustive process with several parties, a development agreement was executed with an established development group, unlocking value immediately while also ensuring a share of profits into the future.

Project Rezone

Rezoning and development approval for residential land subdivision

Role: Oversee purchase of 100 hectare rural property. Successfully lobbied for a fast track Precinct Structure Plan (PSP), one of only six in the state at the time. Rezoned to residential and development approval for 1,200 land lots achieved, with subsequent on-sale of the asset to a third party developer.

Project Urban

30 hectare land parcel designated as a town centre in an urban growth corridor. This project will be developed out over an approximate 10-15 year timeframe.

Role: Investors representative on a structured debt and equity transaction of approx $150m. Complex transaction involving sale and leaseback arrangements and transitional security on a construction and development project. Partially complete and ongoing.

Project Transport

Industrial and Logistics redevelopment.

Role: Manage capital improvements to hardstand and warehousing. Completed redevelopment, then negotiated sale of asset via a sale and lease-back arrangement.

Project North

Distressed construction & development project of 20 residential apartments plus retail, NSW.

Role: Technical planning, environmental and construction contract management advice to lender and receiver to assist recovery of stalled project and invested capital. Project value $17m. Completed and sold with full recovery of capital.

Project Retail

25,000sqm retail centre, Melbourne.

Transaction: $120m senior debt facility. Project complexities around contractual agreements with state authorities, builders and rail infrastructure.

Project Capital 1

Residential apartment development.

Transaction: Convertible note facility to provide partial release of developer’s equity capital mid-way through the project.

Project River

260 residential apartment and commercial complex Melbourne.

Transaction: $95m senior debt facility. Unique project complexities around nature of pre-sales.

Project Capital 2

Residential land development.

Transaction: Joint venture agreement between family office and development syndicate. Structured along the lines of preference equity returns for the larger (passive) capital provider with incentive outcomes to development syndicate.

Project High-Rise

530 residential apartment and retail complex Melbourne.

Transaction: Participation in a $50m mezzanine debt facility as part of a larger structured debt transaction. Large project with various stakeholders within the “capital stack”.

Project Capital 3

Residential townhouse development.

Transaction: Joint venture agreement between family office and developer.

Project Coast

Residential land lot subdivision on a 25,000sqm urban infill site, surrounded by established housing. Project value $34m.

Role: Site sourcing, capital structuring, syndicate management, development management

Status: Successfully completed and sold with return of capital and profit.

Development Summary: Required careful lot layout design and town planning consideration in order to respect its coastal setting and to counter development concerns raised by nearby residents. The end result is that of a safe, quiet and exclusive 36 land lot subdivision within a cul-de-sac, adjacent bushland, farmland and a nature reserve within easy walking distance of river.

Project Port

8 Residential Terrace Homes valued at $16m.

Role: Site sourcing, capital structuring, syndicate management, development management

Status: Successfully completed and sold with return of capital and profit.

Development Summary: High end terrace homes set over 3 levels with internal lifts, roof top deck with city views, a modern reinterpretation of the traditional inner city terrace home.

Project Retail

Retail development of 8,000sqm with a project value of $65m.

Role: Site sourcing, capital structuring, development management

Status: Town Planning

Development Summary: The site comprises industrial zoned land in an inner city regentrifying suburb, a rare consolidated land parcel of size. The proposal is to develop a large format retail store leased to a national tenant on a long lease. Capstone sourced and acquired the site in conjunction with its capital partner, with the intention to hold the completed asset for the long-term. The value-add provided by Capstone was in initiating an off-market opportunity, purchase negotiation, lease negotiation, town planning strategy and capital structuring. This will be a long-term, income producing legacy asset, creating employment both during and after completion of construction.

Project Industrial

10 hectare industrial site in a growth corridor of Melbourne.

Role: Acquisition & Site Strategy

Status: Acquisition Advice Complete

Development Summary: Strategically located to arterial road networks and national highways this land suited a wide range of industrial end users, including logistics, food manufacturing, fuel and warehousing. Capstone sourced and acquired the site for a family office investor. The value-add provided by Capstone was in initiating an off-market opportunity, purchase negotiations and closure, site strategy, assessment of development scenarios, highest and best use outcome and introduction to potential tenants. The site was subsequently on-sold at a significant uplift in value.

Project Chill

Industrial cold storage facility and surplus land valued at $10m

Role: Site sourcing, development management

Status: Complete and sold with return of capital and profit

Development Summary: Acquisition of industrial site of 35,000sqm, including an existing cold store of GBA 12,000sqm with underutilised land adjoining established industrial on one side and established residential on the other. Negotiated a sale and lease back of the main industrial facility with the vendor, designed and obtained town planning approval for subdivision of the surplus land into 23 industrial lots, marketing, sale and settlement of all lots and supervision of civil works. The cold store was retained pending rezoning of a surplus portion of land for residential use then on-sold.

Project Bank

15 Residential Apartments over 6 levels plus retail space. End value $14m.

Role: Site sourcing, capital structuring, syndicate management, development management

Status: Successfully completed and sold with return of capital and profit.

Development Summary: Redevelopment of heritage listed building and surplus land. The challenge – strict heritage controls, a tight site and integration of architecturally designed new apartments. The result was a transformed asset, with grand entrance and sophisticated lobby, exceptional CBD and bay views.