Barclay Capital · Secure Document

Sathio Group IM

This memorandum is confidential and access-controlled. Enter your access code and password.

Barclay Capital View
Private · Confidential · Wholesale Investors Only

Sathio Group

Private Credit Investment Memorandum — Two Secured Mortgage Opportunities
Total Capital Sought
$24.95M
Blended Indicative Gross Yield
17.9% pa+
Security Value
$96.5M
Term
6–12 mo
01

Executive Summary

Barclay Capital Pty Ltd presents two registered-mortgage opportunities secured against commercial real estate held within the Sathio Group.

Opportunity A — Macquarie Park
$7,400,000Second mortgage · 6-month term (+6-month rollover)
Opportunity B — Parramatta
$17,550,000First & third mortgages · 12-month term
Contracted Interest
16% – 20% paFloor band; higher / default 20.5% – 27.5% pa
Exit
Sale or refinanceSathio Group asset sales, or refinance into construction / bank funding
The 3D surfaces below are illustrative stress models, not forecasts: they show how blended LVR moves as property value flexes (horizontal axis) and as the position runs to maturity under an interest-retained scenario (time axis). Drag to rotate; use the sliders to scrub value and month.
A
Opportunity · Second Mortgage
Macquarie Park
Key Terms
Borrower
Sathio Group MP Pty Ltd (ACN 669 762 912) · Dir. Paul Wardana Sathio
Facility
Second registered mortgage — fully drawn advance, $7,400,000
Interest
20% pa floor (27.5% pa higher band); 3 months prepaid then monthly in advance
Security
5,071 sqm MU1 site, 157–159 Herring Rd & 7–11 Lachlan Ave, Macquarie Park · deemed $63,349,270 (M3, Jun 2025)
Debt Stack
Centuria Bass 1st $38.41M + Barclay 2nd $7.40M = $45.81M · LVR 72.31%
Capital Structure — 4D Scenario Surface
◀ Property value ▶
Loan month ▶
LVR ▲
Drag to rotate · scroll to zoom
Property value$63.35M · 0%
Loan month (time)Month 0
Security
$63.35M
Total Debt
$45.81M
Blended LVR
72.3%
Time axis models balance owing if interest were retained / rolled at the contracted 20% pa rather than serviced — an illustrative downside, not the base case (interest is prepaid then paid monthly). Senior Centuria tranche held flat.
B
Opportunity · First & Third Mortgages
Parramatta
Key Terms
Borrower
Drop Bear Finance Pty Ltd (ACN 697 159 934) · Dir. Ronald Sathio
Facility B1
First mortgage (PAG assignment) $13,000,000 · 16% pa · 12 months
Facility B2
Third mortgage (working capital) $4,550,000 · 20% pa · 12 months
Security
Skye Suites Parramatta $29.50M + Nick & Nora's $3.65M = $33,150,000 (CBRE, Nov 2023)
Debt Stack
Barclay 1st $13.0M · Centuria 2nd $6.0M · Barclay 3rd $4.55M · stack LVR 71.04% (net exposure 64.6%)
Capital Structure — 4D Scenario Surface
◀ Property value ▶
Loan month ▶
LVR ▲
Drag to rotate · scroll to zoom
Property value$33.15M · 0%
Loan month (time)Month 0
Security
$33.15M
Total Debt
$23.55M
Stack LVR
71.0%
Time axis models the first (16% pa) and third (20% pa) mortgage balances compounding to maturity; Centuria second held flat. Illustrative — not a forecast.
02

Indicative Returns

Macquarie Park — 20% pa
$740,000Gross interest over 6 months on $7.40M
Parramatta Assignment — 16% pa
$2,080,000Gross interest over 12 months on $13.00M
Parramatta Working Capital — 20% pa
$910,000Gross interest over 12 months on $4.55M
Blended Indicative Gross Yield
~17.9% paCapital-weighted at the floor band

Indicative gross yields computed from contracted rates and capital deployed; illustrative only, not a promised return. Net investor coupon to be advised by Barclay Capital. Property values are borrower / valuer representations, not independently verified.

03

Disclosure

This Investment Memorandum is confidential and may not be reproduced or redistributed without Barclay Capital's permission. Investment is subject to risk including loss of income and capital; the loans are not liquid and capital cannot be withdrawn during the term. Information is drawn from the borrowers and third parties and has not been independently verified; no warranty is given as to accuracy. Figures, the scenario surfaces and indicative yields are illustrative only and not an indication of future returns. This is not a prospectus or PDS and has not been lodged with ASIC. Available only to "wholesale clients" (s.761G Corporations Act). Not legal, tax or investment advice — obtain your own. Counsel should confirm the disclosure and wholesale / licensing position before issue.

Sathio Group · Investment Memorandum · Orbit View
CoverDrag to orbit · scroll to zoom
Version 03 · Noir · Colour Print (black + metallic gold)
Version 04 · Mono · Black Ink on White