Redwood in conditional deal for dud Senior Trust project
Developer Tony Gapes to seek consent for residential development at Wānaka site.
After impairments, the loan balance on Stoney Creek was $16.3m in March this year.
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A lender managed by Senior Trust says it has a conditional deal with Tony Gapes’s Redwood Group to take over a troubled project in Wānaka, whose previous two owners went bust.
Senior Trust Retirement Village Income Generator has been trying to sell the 1.5ha site as mortgagee for two years to
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