MAB Quays Mezzanine Fund
The Quays was MAB’s twelfth major project at Docklands and represented the final piece of New Quay’s eastern waterfront.
The Quays towers share a common Podium consisting of 96 apartments, 539 car parks and around 1000m2 of retail space. The South tower contains 275 apartments over 32 levels. The North tower contains 246 apartments of 27 levels.
The facilities include a 25 metre pool, gymnasium, sauna, spa, yoga rooms, conference facilities and a fully equipped residents lounge. The Podium rooftop incorporates a tennis court, club rooms and gardens.
The fund made a loan to the developer secured by a second ranking mortgage at a loan to value ratio of between 72 to 85%. The fund provided an Internal Rate of Return of 20%.