Infinity Investment Group had development funding from Bank of Scotland International (BOSI) to complete Pegasus. BOSI got into financial difficulty and was bought out by Lloyds International and the UK Government. During the peak of the European Financial Crisis Lloyds International needed to raise capital and decided to sell the original BOSI Australasian property loan book. The New Zealand part of the loan book was sold to a consortium of Brookfield Australia and Goldman Sachs and contained 22 individual loans, the Pegasus loan being one of them. The consortium offered Pegasus Town Limited the opportunity to buy back its loan at a considerable discount. The process of raising the money to purchase the loan took too long and Pegasus Town Limited was put into receivership as it was unable to pay back that loan in time. By the time Infinity had raised the loan amount, Todd Property Group had already contracted to
purchase the loan. Todd Property now owns the Pegasus project.
Infinity Investment Group is now focusing on its new 1000-lot development in North Canterbury – Ravenswood.
This is adjacent to the towns of Woodend and Pegasus and is due to launch soon.
If you would like to register to receive information on early bird deals on either residential or commercial lots at
Ravenswood once released, please register your interest on the Ravenswood website.