Australian luxury real estate developer Kokoda Property has secured funding from investment firm and non-bank lender Woodbridge Capital for its A$450m-plus (€253m) mixed-use precinct in Melbourne.

Woodbridge said it has partnered with Kokoda to provide the residual stock facility for the recently completed Malvern Collective.

The funding facility is intended to support Kokoda’s cash flow and help in value preservation following the project’s completion in September. Specifically, the financing enables the developer to manage the conclusion of the sales process for the remaining apartments in an orderly manner.  

Located at the junction of Glenferrie and Dandenong Roads, the Malvern precinct is a mixed-use development comprising two towers.

The development includes 205 apartments, with a dedicated Penthouse Collection. The ground level incorporates a mix of retail, dining and lifestyle spaces, with pedestrian lanes providing access to Glenferrie Road and Malvern Station.

Andrew Torrington, managing director and CIO of Woodbridge, said: “The Malvern Collective precinct is a perfect example of what we stand for – quality assets, credible sponsors and projects in sought-after markets.

“Partnering with Kokoda and their partners demonstrates our capability to move quickly, structure tailored solutions and support premium developers delivering superior product.”

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