Lender seeking projects

NZMS announced in February that it had $100 million available.

Head of lending James Kellow said this week that $55 million of funding limits had now been approved, for projects ranging from a retail redevelopment in Constellation Drive to apartments in Devonport.

Another $10 million of deals is under discussion.

Kellow said he was particularly keen to look at funding mid-range residential and medium or large-scale first-home developments.

NZMS invests its own capital and assess its own risks.  Loans can be approved quickly. “In the last six months, we’ve also brokered $421 million in bank finance approvals, with deals ranging from $5 million upwards.”