The nonbank lender will provide construction finance for Molti’s Heirloom project at Kangaroo Point
What Monark Property Partners will provide construction finance on Molti’s $60m luxury apartment project, Heirloom
Why Three of the five full-floor residences have sold off-the-plan, and Graya has been appointed as builder
What next The project is due to be completed in mid-2027
Nonbank lender Monark Property Partners will provide construction finance for a circa $60m luxury apartment project in Brisbane’s Kangaroo Point.
The project, known as Heirloom, is being developed by Gold Coast-based developer Molti. Brisbane-based Graya was appointed builder in February, and construction is underway.
Situated on a riverfront site at 4 MacDonald Street with views of the Brisbane CBD, the project has just five full-floor residences, including a penthouse. Three of the residences have sold off-the plan, including a four-bedroom apartment purchased for $11m in October by Graya co-founder Rob Gray.
Monark, owned by Boris Liberman’s family office Jagen and its founders, Michael Kark and Adam Slade-Jacobson, partners with developers on boutique residential projects in inner and middle ring suburbs as well greenfield land subdivisions.
Slade-Jacobson said Heirloom is a landmark project. “It’s a cracker,” he told Green Street News.
“We partner with developers where there is a clear alignment of vision, capability and market positioning. Heirloom combines a tightly held riverfront site with a product aligned to owner-occupier demand,” he added. “Through these partnerships, we provide the capital and certainty required to move high-quality developments from concept into delivery.”
Ben Teague, managing director of Molti, said Monark’s involvement supports the next phase of Heirloom’s progress.
Media Coverage
This story was originally written by Larry Schlesinger and published by Green Street News: Australia – see the article here