Residential construction debt facility – Pace 3058, Coburg, Melbourne

Centrally located in the northern Melbourne suburb of Coburg, Pace 3058 is an apartment development within the emerging residential Pentridge precinct.

Completed in 2024, Pace 3058 offers 311 residences including a mix of one, two and three bedrooms. It features attractive amenities including a full-length lap pool, rooftop gardens, residents dining and lounge areas and extensive bike storage, along with a retail offering within the precinct, including a childcare centre and a shopping district.

The developer, Pace Property Group have a strong track record, having delivered over 100 residential projects. They are also a borrower Qualitas has lent to previously, providing funding for one of their projects in Abbotsford in 2019.

Pace selected Qualitas as the exclusive senior financier for the Pace 3058 construction facility, as Qualitas was able to offer a flexible financing solution with execution certainty instead of the initial plan to use multiple lenders.