Developer Blue Earth Group has received financial support for its $140 million Ivanhoe Gardens residential project, with commercial lender MaxCap announcing it will fund part of the construction.

The MaxCap Funding Facility will be for Stage 1 of the master plan development and will cover the Bloomsbury’ and ‘Everleigh’ buildings within the project, comprising 235 apartments.  

The project is well located in the leafy northeastern suburb of Ivanhoe and residents will have direct access to public transport, with a metro train station and bus stops along Bell Street.

At a glance: 

• Commercial lender MaxCap Group has announced it will fund part of Blue Earth Group's $140 million Ivanhoe Gardens project.
• The MaxCap Funding Facility will be for Stage 1 of the master plan development and will cover two buildings in the project, to be known as ‘Bloomsbury’ and ‘Everleigh’, comprising of 235 apartments. 
• Ivanhoe Gardens will be the 14th project on which MaxCap and Blue Earth Group have collaborated.

Source: CHT Architects

Residential amenities at Ivanhoe Gardens will include a wine cellar, cinema, on-site ‘click & collect’, fitness centre, indoor squash court, sauna, game room, golf simulator and co-working space, all of which have the potential to be booked via a custom-made building app.  

Ivanhoe Gardens will be the 14th project on which MaxCap and Blue Earth Group have collaborated.

MaxCap Group founder Brae Sokolski said the company had a long proud history of funding  Australia’s leading private developers. 

“BEG always deliver an exceptional product at a competitive price point and Ivanhoe Gardens is a prime example.

"We are delighted to be funding this development and reinforcing our unwavering  commitment to providing institutional scale credit to the real estate sector.” 

“Throughout the Covid-19 pandemic, we have led the industry in continuing to actively fund creditworthy projects, providing support to our clients at a critical time.”  

Carlton-based Blue Earth Group was founded by Michael and Omran Dib and commenced operations in 1993.

The Group has since grown to become one of Melbourne’s most active developers, with over 2000  apartments in the current pipeline.  

Mr Dib said they aimed to develop apartments that revolved around lifestyle elements.

Source: CHT Architects 

“These are beautiful vibrant spaces that draw inspiration from the 21st-century lifestyle," he said.

"Ivanhoe Gardens will meet the  demands of an urban lifestyle, striking a balance between work, rest and play with spaces that  ultimately connect people with a shared concern for a better way of life.” 

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