Finance for Property Syndicates & Managed Investment Schemes
Non-recourse lending for registered and unregistered managed investment schemes. Loan secured against the property asset only — no personal or directors guarantees required.
Key Features
Non-Recourse Structure
Loan secured against the property asset only. No personal guarantees or directors guarantees required, protecting investors’ personal borrowing capacity.
Registered & Unregistered MIS
We arrange finance for both AFSL-licensed registered schemes and wholesale-only unregistered managed investment schemes.
Lease-Doc Facilities
For tenanted commercial and industrial properties, lease-doc facilities streamline the approval process by relying on rental income rather than investor financials.
Expert Coordination
We coordinate between the syndicate, your solicitors, and the bank’s solicitors to ensure loan documentation correctly reflects the trust structure.
Recently Funded Deals
See what's possible with the right finance solution
*Based on real deals settled by Andorra Private. Details may be generalised for confidentiality.
Unregistered MIS — Industrial Warehouse Portfolio
The Scenario
A property syndicate structured as an unregistered managed investment scheme sought finance to acquire a portfolio of large industrial warehouses in regional Victoria.
The Challenge
The syndicate required non-recourse lending with no directors guarantees — a structure many lenders are unfamiliar with. Loan documentation needed to reflect the MIS trust structure correctly, requiring coordination between the client, their solicitor, and the bank's solicitor.
The Solution
We identified a major bank willing to provide a lease-doc facility on a non-recourse basis. We then worked closely with all parties — the client, their legal counsel, and the bank's solicitors — to ensure the loan contracts correctly reflected the trust structure and that no personal guarantees were required.
The Outcome
The facility was successfully arranged with a major bank. The syndicate acquired the warehouse portfolio with no directors guarantees, and all loan documentation was executed correctly on the first pass.
Non-Recourse
Structure
None
Guarantees
Lease-Doc
Facility Type
Major Bank
Lender
Featured Deal
Industrial Warehouse Portfolio — Regional Victoria
Non-recourse finance for an unregistered managed investment scheme acquiring a large-format industrial warehouse complex.
The Scenario
A property syndicate structured as an unregistered managed investment scheme sought finance to acquire a portfolio of large-format industrial warehouses in regional Victoria. The complex comprises multiple high-clearance warehouse buildings on a significant land holding, strategically located near major transport corridors with established commercial tenants in place.
The Challenge
The syndicate required non-recourse lending with no directors guarantees — a structure many lenders are unfamiliar with or unwilling to consider. The loan documentation needed to correctly reflect the MIS trust structure, requiring detailed coordination between the syndicate, their solicitor, and the bank's solicitor. Any error in the documentation would have required costly renegotiation and delayed settlement.
Our Solution
We identified a major bank willing to provide a lease-doc facility on a non-recourse basis, leveraging the strong tenant covenants and long-term lease agreements in place across the portfolio. We then worked closely with all parties — the client, their legal counsel, and the bank's solicitors — to ensure the loan contracts correctly reflected the trust structure and that no personal guarantees were required from any syndicate member.
The Outcome
The facility was successfully arranged with a major bank on competitive terms. The syndicate acquired the warehouse portfolio with no directors guarantees, all loan documentation was executed correctly on the first pass, and settlement proceeded on schedule. The investors' personal borrowing capacity was preserved in full, allowing them to continue pursuing other investment opportunities.
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Start ApplicationWhat Is Property Syndicate Finance?
Property syndicate finance is lending provided to a group of investors who pool their capital to acquire commercial or industrial property through a trust structure. The syndicate is typically structured as a managed investment scheme (MIS) under the Corporations Act, with a trustee or responsible entity managing the asset on behalf of the investors.
Finance for syndicates works differently from standard commercial lending. The loan is made to the trustee entity, secured against the property asset, and structured so that individual investors are not required to provide personal guarantees. This is known as non-recourse lending.
We work with both major banks and non-bank lenders who understand syndicate structures and can provide competitive terms for commercial and industrial property acquisitions.
Registered vs Unregistered Managed Investment Schemes
A registered managed investment scheme is one that has been registered with ASIC and is operated by a responsible entity holding an Australian Financial Services Licence (AFSL). Registered schemes are required to issue a Product Disclosure Statement (PDS) and can accept investments from retail investors. These schemes are subject to the full regulatory framework under Chapter 5C of the Corporations Act.
An unregistered managed investment scheme is available only to wholesale clients. Under section 601ED of the Corporations Act, a scheme does not need to be registered if it has 20 or fewer members, or if all members are wholesale clients. Unregistered schemes have fewer regulatory obligations but must still comply with the trust deed and general law requirements.
We arrange finance for both structures. The key difference from a lending perspective is the documentation requirements and the lender’s familiarity with the scheme structure. We work with lenders experienced in both registered and unregistered MIS lending.
Non-Recourse Lending for Syndicates
Non-recourse lending means the lender’s security is limited to the property asset itself. If the loan defaults, the lender can enforce against the property but cannot pursue the individual investors or directors for any shortfall. This is a fundamental feature of syndicate finance and one of the key reasons investors prefer this structure.
In practice, most non-recourse facilities include limited “bad-act” carve-outs — situations such as fraud or intentional misrepresentation where the lender can look beyond the property. These are standard market terms and do not undermine the non-recourse nature of the facility.
By structuring the loan on a non-recourse basis, investors’ personal borrowing capacity is preserved. The syndicate loan does not appear on individual investors’ personal balance sheets, allowing them to maintain their capacity for other investments or personal lending.
How We Structure Syndicate Finance
Our process begins with assessing the property asset and tenancy profile. For commercial and industrial properties, we look at the lease terms, tenant covenant strength, rental income, and property condition to determine the likely lending parameters.
We then identify the most suitable lender from our panel. Not all lenders are comfortable with syndicate or MIS structures, so matching the deal to the right lender is critical. We prepare a detailed credit submission tailored to the lender’s requirements.
Once a lender is selected, we coordinate the documentation process between all parties — the syndicate trustee, your solicitors, and the bank’s solicitors. Loan documentation for syndicates is more complex than standard commercial lending, and getting it right on the first pass saves time and cost. Typical LVRs range from 40–65% on commercial and industrial assets.
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“Nick as a broker is part of my dream team for not only residential but especially commercial lending and has been nothing short of brilliant! Always calm under pressure and gets the job done. Very proactive and knowledge far superior to other brokers I've worked with. He's also got another option up his sleeve to ensure you achieve your goals. Absolutely no hesitation in recommending Nick for all things finance. Do yourself a favour and have a preliminary chat with Nick.”
Rachael
Commercial Lending
“Nick is an absolute gun at his job. I've been through many brokers over the years, and he is by far the best I've worked with. His knowledge in the commercial space is second to none, and the way he handles the process is completely seamless.”
P
Commercial Finance
“Nick is super professional and highly competent in his craft. He guided me with credible lending options and advice during my commercial property purchase journey. Highly recommended.”
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Commercial Property
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