Construction finance company gets new facility
Auckland-based property finance company Vincent Capital secures new lending facility.
Wednesday, July 31st 2024, 8:35AM
Vincent specialises in funding for builders and developers, has established a senior warehouse funding facility with Goldman Sachs. This facility provides for up to $300 million for residential construction lending, underscoring the appeal of New Zealand's property market on the global stage.
Since its inception in 2017, Vincent Capital has lent more than $2 billion, with the company supporting the construction of new homes, terraces, apartments, and subdivisions largely in Auckland, Christchurch and Waikato.
This new facility with Goldman Sachs represents a significant milestone in Vincent Capital’s ongoing commitment to providing property developers and builders with the financial resources necessary to meet the country's growing housing needs and supporting the sector to continue to build through challenging market conditions as seen currently.
Vincent Capital chief financial officer Eoin O’Grady said: "We are incredibly excited to have Goldman Sachs involved, a global leader in finance. This facility will significantly bolster our ability to finance development projects throughout New Zealand.
“We remain dedicated to fostering a thriving property development sector and are confident that this move will benefit our clients and the wider community."
The facility will enhance Vincent Capital’s capacity to provide flexible financing solutions tailored to the specific needs of builders and developers, with the company taking a renewed nationwide focus. This initiative aligns with the company's mission to support the creation of sustainable and affordable housing, thereby contributing to the overall social and economic growth.
| « New guidance for client money and property services brokers | Vincent Capital adds a South Island BDM » |
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