Sydney developer and investor Poly Australia has made its first foray into private lending, offering a $40 million senior debt to a private developer for a residential land subdivision project in Sydney’s north-west.
It could not name the borrower but said it raised the debt through a new unlisted wholesale fund, the first of many funds it would now launch as it turned its hand to funds management.
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Su-Lin Tan reported on housing, commercial real estate and property finance. She also covered China and Asian business, trade and politics. Connect with Su-Lin on Twitter. Email Su-Lin at stan@afr.com.au
