Major Melbourne developer APH Holding has collapsed into administration owing at least $150 million to MaxCap, a private credit fund, which has become one of the country’s biggest real-estate financiers.
The private developer is owned by Chinese businessman James Zhang, and has borrowed money from MaxCap for a 20-storey, $320 million health precinct near the Box Hill and Epworth hospitals in Melbourne’s east.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
