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Qualitas advised on multimillion-dollar funding package
Maddocks has advised Qualitas on its funding package worth $600 million.
Emma Musgrave
Firm: Maddocks (Qualitas)
Value: $600 million
Area: Banking and finance
Key players: The Maddocks team was co-led by banking and finance partner Ilan Kraus and special counsel Trent Chugg, with support from construction partner Andrew Chapman and property partner Alicia Albury.
Deal significance: Qualitas is one of Australia’s largest alternative finance facilities.
According to a statement from Maddocks, the new AURA by Aqualand development in North Sydney is believed to be one of the largest development finance transactions provided by an alternative financier in Australia.
“The project will accommodate a 28-level mixed-use development including 386 residential apartments, a retail and dining precinct and commercial spaces,” Maddocks explained.
Commenting on the transaction, Maddocks co-lead partner Ilan Kraus said: “A big congratulations to both Qualitas and Aqualand on closing this facility.
“We are delighted that Qualitas entrusted us on such a marquee transaction — it’s the largest single facility ever advanced by Qualitas and likely to be one of the largest construction funding transactions in Australia this year.”
Commenting further, Gil Norwood, head of construction debt fund at Qualitas, said: “The project financing for AURA by Aqualand represents a significant step forward for our business.
“The expertise and professionalism of the Maddocks team was a crucial element leading into the successful execution of this investment. We look forward to working with Maddocks as we continue to grow our market share.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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