Street Talk understands the Melbourne-based group will use the freed-up funds to hire top talent.
Street Talk understands the Melbourne-based group, which has ploughed funds into 570 Little Bourke in Melbourne CBD and The Bondi apartment complex, has pushed through a round of redundancies.
Sources said the aim is to retrench underperformers and use freed-up funds to hire talent. Others will receive promotions. MaxCap did not respond to Street Talk’s request for comment. While largely unknown outside the property pages, MaxCap is a big name in the Victorian non-bank lending scene founded byin 2007. According to its latest financial accounts, lodged with the corporate regulator, it employs 85 staff who brought in $76 million revenue and $22 million profit in financial year 2023. This represents a 71 per cent jump on FY22 profits.
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