Profitable Partnership

Credit crunch triggers a profitable partnership

The Brief

BWI Group was introduced to an offshore investor who owned a site in Brisbane. He had attempted to develop the site while living overseas, however managing this remotely was proving very challenging and costly. Furthermore, the post-GFC lending environment was making it difficult to secure additional funding. A local joint venture partner was needed to inject capital and manage the process on the ground in Australia.

The Response

The dramatic tightening of banks’ lending criteria following the global financial crisis led to a shortage of potential investors. BWI Group, through Blake Walker’s network, identified those potential investors who were still able to access finance and matched them to the unrealised opportunity. This is how BWI Group found a local developer to step in as the local joint venture partner for the Brisbane site.

The Outcome

The offshore client now has peace of mind knowing the project is being managed efficiently on the ground in Brisbane and is set to realise the return of the development without bearing all the risk. BWI Group will remain involved, monitoring the progress of the local developer and reporting back to the offshore client on a regular basis.