Woodbridge loans $100m for Brisbane residential development

Woodbridge Capital has provided a new $100 million loan for a residential development in Brisbane, delivering 150 apartments close to the CBD.

Woodbridge Capital head of investments Matthew Samuels said the deal shows the private credit manager's continued appetite to fund quality residential projects.

"We continue to actively lend, but the discipline behind our decisions hasn't changed. We are looking for well-located commercial real estate, experienced borrowers, sound project fundamentals and, importantly, a clear path to repayment," Samuels said.

"This project brings those elements together. It is a substantial residential apartment development close to the centre of one of Australia's fastest-growing capital cities, and a $100 million-plus facility demonstrates our ability to provide borrowers with certainty on larger and more complex construction projects."

The Property Council has estimated that around 8000 attached dwellings need to be delivered annually in Brisbane through to 2031 under the South East Queensland Regional Plan, while current forecasts point to materially lower levels of apartment delivery.

"Private credit has an important role to play in getting viable apartment projects out of the pipeline and into construction, particularly in an environment where development feasibility and access to capital remain challenging," Samuels said.

Woodbridge Capital state director for Brisbane said the transaction reflected both the scale of opportunities emerging in Brisbane and the importance of having lending expertise on the ground.

"Brisbane has very strong long-term fundamentals, but bringing new apartment projects to construction remains challenging. Construction costs, feasibility and access to capital are all influencing which projects ultimately proceed," Griffiths said.

"That makes disciplined project selection particularly important. For us, it is not simply about growth or deploying capital - it is about backing experienced borrowers and projects in locations where we can see genuine underlying demand and strong fundamentals.

"Having a team on the ground means we can understand those dynamics at a project level and work closely with borrowers to structure funding that gives quality developments the certainty to move forward."