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Maddocks acts for Qualitas on funding package for new Brisbane development

• 07 August 2023 • 2 min read
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Maddocks has advised leading alternative real estate investment manager Qualitas (ASX: QAL) on its funding package for the new Monarch Residences development by Consolidated Properties Group in Brisbane.

The luxury development set in Toowong will accommodate 224 apartments and penthouses across two buildings, covering 1.2ha and 130 metres of Brisbane River frontage, with city and vista views. The development is expected to be completed late-2025.

The Maddocks team was co-led by Banking & Finance Partner Ilan Kraus and Special Counsel Trent Chugg, with support from Construction partner Sefton Warner. It follows the team’s previous work with Qualitas including its transaction for the AURA by Aqualand development in Sydney in October last year, one of the country’s largest alternative finance facilities.

“We are delighted to once again advise Qualitas on its funding facility for this significant project in Brisbane, and to support on such a significant project,” Ilan Kraus said. “It is another step in Qualitas’ expansion plans as it continues to build on its market share across Australia.”

Gil Norwood, Head of Total Return Credit at Qualitas, added: “We continue to work with Maddocks on key projects such as Monarch Residences, with their deep expertise and understanding of our requirements helping us to deliver for our partners. The ability to deliver funding packages with increasing flexibility and speed requires strong relationships, and this recent work for the Monarch Residences project further strengthens our relationship with the team at Maddocks and we hope to continue to build upon that with future projects.”

About Maddocks

Maddocks is a proudly independent Australian law firm that works closely with corporations, businesses and governments throughout Australia and internationally. We advise national and international clients across infrastructure and development and the education, government, healthcare, and technology sectors from our Canberra, Melbourne and Sydney offices. Our specialist expertise includes dispute resolution and litigation, employment and safety, financial services, franchising and insolvency.

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