Merricks gets a place on the river with $190m finance deal

"Liberman-family backed investment house Merricks Capital has stumped up a $190 million first mortgage loan to back the development of a major housing project overlooking the Yarra River in inner-city Melbourne.The Merricks move comes as non-bank lenders snare a greater slice of the commercial property book following moves by the major banks' to scale back their $300 billion exposure in commercial real estate lending.

The Park House, as the project is known, is a mixed-use residential and retail development in Abbotsford and a joint venture between Salta Properties and the Smorgon family"

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https://www.afr.com/real-estate/merricks-gets-a-place-on-the-river-with-190m-finance-deal-20190318-h1ciqs