Qualitas to finance Sydney housing project The Meadows

Qualitas, backed by Melbourne’s Schwartz family, has agreed to fund the acquisition and development of a $135 million southwestern Sydney housing project known as The Meadows.

Qualitas will provide a senior debt facility to developer Monarch Investments Group for the site in Bardia, adjacent to Monarch’s Ingleburn Gardens estate, which is to include 210 house-and-land plots.

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“Qualitas provides financing for developments with strong fundamentals, managed by trusted developers, and Monarch Investments Group has a track record of successfully developing estates in this area,” Qualitas real estate finance managing director Tim Johansen says.

The infrastructure is in place, the demand is huge and the location is a sweet spot between two major arterial roads as well as a railway line

“The southwest corridor of Sydney is in high demand, and the successful sales of earlier developments make us confident that Monarch will achieve strong sales for the project and deliver a solid return on investment.”

Monarch chief executive Peter Icklow says the company has developed more than 6000 blocks in the past six decades, and the Bardia project was an ideal development.

“The infrastructure is in place, the demand is huge and the location is a sweet spot between two major arterial roads as well as a railway line,” he says.

“We have been working closely with Qualitas to ensure we have the funding we need to build the first stage of Ingleburn Gardens, after which we expect to receive strong pre-sales.”

This article originally appeared on www.theaustralian.com.au/property.