Viceroy looks to pay out investors
The property group behind the Mount Gilead Retirement Resort in Sydney is seeking equity fundign from the US to pay $30 million to investors.
According to an article in The Australian, the Sydney property group behind the delayed Mount Gilead Retirement resort is seeking equity funding from US funds management group XE Capital to pay out $30 million investors.
The finance for the project was raised by investment group Finchley Capital. It lent money directly to Viceroy from a trust it established to fund the development.
Viceroy’s 1000-unit development is reportedly two and a half years behind schedule.
But in a statement, Viceroy’s CEO Peter Singer said the project was “well underway” wand deposits had been taken out “on 61 homes”.
