Veda Capital - Newmarket
Veda Capital :: Property Financiers, Underwriters and Private Equity Specialists - Vedacapital.co.nz
Veda Capital Limited provides underwriting services for developers and builders seeking mainstream funding for their projects. Typically, banks require a specific number of pre-sales before considering any type of development funding.
Sometimes getting the required number of pre-sales can be difficult and time consuming. Also, the developer may have to provide discounts to obtain the necessary pre-sales, thereby sacrificing potential profit. Pre-sales also set the benchmark for future sales and can have an adverse effect on prices once the development is complete.
An underwrite is often a great option that works for the bank as well as the developer, as it dispenses with or reduces the need for pre-sales. Under this arrangement, the underwriter (Veda Capital) agrees to purchase a specific number of properties in the development at a mutually agreed purchase price, called the Underwrite Price (usually 70% to 80% of open market value). In the event that the developer is not able to sell the completed product before a specific date (Termination Date), the bank will require Veda Capital, as the underwriter, to settle the underwritten properties.
Contact Veda Capital
| Address : | Veda Capital Balm Street, Newmarket, Auckland 1023, New Zealand |
| Phone : | 📞 +9 |
| Postal code : | 1023 |
| Website : | http://www.vedacapital.co.nz/ |
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