Resimax Group has secured financing to continue the development of its flagship Eynesbury community in Melbourne’s northwest growth corridor.
Following six months of negotiation, the $350 million refinancing deal was closed by a consortium of global private credit investors led by Nomura and Avenue Capital.
Resimax Group Managing Director Ozzie Kheir said this deal is the Group’s most significant since its purchase of Eynesbury in 2019.
“We’re very thankful to our major funding partners Nomura, Avenue Capital and Allianz Global Investors, who have banded together to support the ongoing delivery of Eynesbury Township,” Ozzie said.
“This deal underscores their confidence in Resimax’s capability as well as our largest residential project Eynesbury.
“The funding we have secured will allow us to continue to bring forward major infrastructure and services that will support Eynesbury’s existing population of more than 4,000 people, future residents and local business operators.
“I’m sincerely grateful to outgoing financier MaxCap Group and Metrics for their support over the past three years, which has underpinned the success of Eynesbury.”
Stephen Allan, a Managing Director at Nomura in Australia responsible for Loans and Principal Investments said the global financial services group is honoured to be able to assist the continued expansion of Eynesbury.
“Nomura is proud to support the flagship Eynesbury project and Resimax Group. We have formed a strong partnership, built on successful projects and a track record of delivery, over the past three years,” he said.
“We are thrilled our investors showed full confidence in Nomura by supporting this marquee funding package, demonstrating trust in us, the project and our delivery partner, the Resimax Group.”
Since Resimax bought Eynesbury four years ago, it has reactivated the development and delivered more than 650 lots, despite the challenges of COVID lockdowns and soaring wage and material costs.
Located 44km west of Melbourne’s CBD, Eynesbury is a vibrant and welcoming community of 4,000 residents. The stunning 828-hectare self-contained property development lies between two fast-growing ‘cities’ – Melton in the north and Werribee to the south.
The estate is bordered by 288 hectares of protected forest and has an abundance of parkland and open spaces. Its attractions and amenities include a primary school, kindergarten, sporting facilities, grocery store, restaurants, cafes and monthly farmers’ market. It is also home to one of the top 100 golf courses in Australia and historic bluestone Eynesbury Homestead, which has been renovated into a dining and entertainment venue. The Victorian Government announced last year that a permanent bus service to Eynesbury would be provided as part of its’ election commitments. This follows other major announcements in the area including the new Melton Hospital that is scheduled to commence construction in 2024.
About Resimax Group
Resimax Group is a multi-service integrated property developer directly involved in all facets of the residential property industry, including land acquisition, estate development, town planning, house and apartment architecture, project management and marketing, sales and rental property management.
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