Pacific Aegis Capital Management Group (“PACM”) Closes First Loan Facility in Australia Secured by a Melbourne Serviced Apartment Hotel

PACM announces the closure of its first senior secured debt in Australia on May 4th, 2023, with a facility amount of HKD 150 million (the “Facility”) to an Australian Company. The facility is secured by a first lien mortgage against an apartment building located in a prime location in Melbourne, Australia (the “Property”), and together with the Borrower’s personal guarantees.

PACM takes the property as collateral for the loan in which they invested. The property is a serviced apartment hotel comprising a 38-storey high-rise building completed in 2020. It features 115 serviced apartments providing a letting pool of 160 keys. According to property consultants CBRE Group Inc, the property has an estimated valuation of AUD 61,500,000 (equivalent to HKD 322,385,000) or approximately AUD 379,630/room (equivalent to HKD 1,994,253/room), resulting in an LTV of 46.53%.

“Issuing our first senior debt facility in Australia, backed by a noteworthy asset like this serviced apartment hotel, underscores our commitment at PACM. We maintain a business practice of timely and trustworthy interactions, which allows us to unlock unique investment opportunities while ensuring efficient management,” said Francis Ng, Managing Director and Chief Investment Officer of PACM. “Upholding these values is central to our approach as it facilitates open and transparent dialogue with our investors, a foundational principle of our operations.”