In early 2016, GPS stopped lending while we got our heads around the apartment oversupply issue.
We then refocused our lending to avoid types of product and areas which were of concern to us. The subsequent lending performed by GPS has been successful and we are on target for a large amount of funds to be returned to us in the coming months.
GPS is very much open for business to fund new projects which are due to be underway by the end of 2017.
Affordability of end product in existing residential areas with good amenities and services remains a favourite for us.
Our sweet spot is for loan sizes between $3 and $7.5 million. We will look at larger loan sizes of up to $15 million for the right project.
If you have, or are involved in, a project where funding is uncertain then please give me a call to discuss.
This is my business which I have been operating since 1993. GPS has a direct investor base spread over five separate funds. We also have other funding lines available to us.
This provides surety that funds will be there when required.