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Non-bank lender MaxCap is providing Franze Developments with a $97 million first-mortgage facility to build a two-tower residential and hotel complex in the regional Victorian city of Geelong.
The Geelong Quarter project at 44 Ryrie Street, will have an end value of $200 million. It will include 124 residential apartments and a 180-room hotel with internal swimming pool, gym and restaurant.
MaxCap is providing a $97 debt facility to Franze Developmentsâ Geelong Quarter in the regional Victorian city of Geelong.Â
The project aims to capitalise on the growing popularity of life outside Melbourne, in part driven by the pandemic, said Johnny Woodhouse, MaxCapâs state director for Victoria.