DomaCom Announced Gaining Of A$50 Million Lending Facility From The La Trobe Financial

DomaCom Announced Gaining Of A$50 Million Lending Facility From The La Trobe Financial

DomaCom Limited (ASX: DCL) is the company which operates the DomaCom investment platform. The platform provides Self-Managed Superannuation Funds (SMSF) market, and other long-term investors with the opportunity to make investments, in a range of asset classes like property-related investments, debt securities etc. Investments in DomaCom platform are facilitated in the DomaCom Fund, which is a licensed managed Investment scheme registered with Australian Securities & Investments Commission (ASIC).

On 1st April 2019, the company announced that it has partnered with La Trobe Financial, to provide a credit facility to the property investors using DomaCom’s fractional property investment fund.

La Trobe Financial is a non-banking financial company (NBFC) which specialises in credit and wealth management, containing A$7 billion of Assets Under Management (AUM). It provides funding and investment solutions to a diverse range of institutional and retail customers. It is 80% owned by Blackstone, which is the world’s largest alternative asset manager with over US$472 billion of AUM worldwide. The company has also done many innovations in the non-bank sector, like creating the first private Reverse Mortgage (Seniors Loan) in 2003, launching the first hybrid wealth management-loan product P2C to assist first home buyers in 2013 etc.

La Trobe Financial has provided an initial amount of A$50 million facility, which will allow investors to acquire approximately A$100 million of leveraged property (residential, commercial and industrial property) through the DomaCom Fund. The leverage will be provided to investors and SMSFs up to 60% at a competitive rate of 5.99% per annum.

By enabling the use of lending when purchasing investment properties, which is an important addition to the DomaCom product offering, the company has been able to strongly position itself to almost triple its Funds Under Management to $150 million.

Mr Arthur Naoumidis, CEO of DomaCom stated that now financial advisers can leverage their clients’ investment properties in a few seconds, which is a major development for the Australian property investment market. Previously, the company had bought over 50 properties, that were without debt. Now, the company has finally introduced the debt through which it is able to offer advisers, ready access to competitive SMSF lending. The availability of $50 million debt facility has cleared the remaining obstacle for DomaCom. After many years, the company is finally well placed with the availability of debt and legal certainty, and it can now take the platform to financial advisers and the SMSF sector.

Mr Chris Andrews, Chief Investment Officer, of La Trobe Financial said that they were pleased to work with DomaCom, which would enable them to assist borrowers, to obtain the needed SMSF finance for property investment purposes.

On 1st February 2019, the company announced that it is going to start 6-month pilot with a Big 4 Bank.

The company’s stock traded flat during the day’s trading session and closed at A$0.125 as noted on 1st April 2019. The stock has delivered a return of 13.64% in the last one month, while the YTD return stands at a massive return of 108.33%.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Top 25 Dividend Stocks report for April

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report