812 From January 2018, Mr Tesoriero and Mr Papas, through their associated entities, embarked upon a multitude of property and asset projects that were funded, all or in part, by FGFS. Many of the acquisitions were committed to before the difficulties with Maia emerged, and certainly before it was appreciated that the difficulties would prove insurmountable. The evidence which I will come demonstrates that during the period from about March 2018 to October 2018 the Forum entities involved in the Maia relationship were under considerable financial pressure as they sought to make the payments due under the Standstill Agreement (as varied) and the Maia Deed of Assignment. As the correspondence addressed below between, in the main, Mr Papas, Mr Tesoriero and Mr Bouchahine demonstrates, that financial pressure appears to have been alleviated by the present financiers progressively coming on line. As will be seen the flow of tainted funds enabled Forum to not only move beyond the problems they were having with Maia but to resume expenditure on a grand scale in relation to the many and varied personal projects of Mr Papas and Mr Tesoriero, alone and in combination.
813 A summary prepared pursuant to s 50 of the Evidence Act in relation to the property purchases and ownership of various respondents to the Westpac Proceeding was tendered without objection. The summary was not contested. The majority of the real properties were purchased utilising SPVs, which were typically named after the address of the property that was bought by the entity.
814 The properties acquired by Mr Tesoriero's associated entities represent the majority of the Australian assets held by the Respondents. Many of the respondents in the proceedings are SPVs set up by Mr Tesoriero for the sole purpose of holding and/or developing property.
815 Mr Tesoriero accepted that he was concerned about cashflow and had numerous discussions with Mr Papas from early 2018 to June 2021 about the cashflow position in relation to each of the property and asset acquisitions during this time. Mr Tesoriero's concerns in relation to cash flow were not limited to his extensive real property acquisitions, but extended to extravagant personal property, race cars and yachts. By way of illustration, on 23 March 2018, Mr Tesoriero emailed Mr Papas an overview of the myriad of upcoming payments for Forum:
give me an idea if you can tonight or over the weekend at the latest, what you think I can commit to deal wise for timing
Ideally would see 2 below, qld and rozelle cleared by Wednesday… total 2.125 required from forum
75k remaining payment on race car Mon/Tues
90k deposit on boat if they accept end of next week
120k norlane property purchase property secured….24% return plus upfront early next week
3m for land subdivision property secured 30% return plus upfront late next week or early the week after
2.7m for Lane cove zumbo deal… 3 weeks from now
4m winery at Mudgee property secured….24% plus upfront
Cannatrek 500k to 1 m…. 1 to 2 weeks
775k as discussed previous deal… ideally sooner the better
10-15m for Sam for us… I can property secure this one
I told the boat guy we need 3 months mooring in Miami thrown in on the deal also….
There's more but I don't want to give you a heart attack….
816 Mr Tesoriero's laundry list of investments and deals ranging from properties and wineries to race cars and boats totals in excess of $25 million and is indicative of Mr Tesoriero's preparedness to agree to a deal and figure out the financing later. Mr Tesoriero concluded his email to Mr Papas with:
Please come back to me with something… I'm dancing here and the music has stopped….
Send me that Orca info when you can….
817 Later that day, Mr Papas replied to Mr Tesoriero: "Faaaaaaark!!!! Will let you know". Mr Tesoriero replied a few minutes later: "Good problems to have…".
818 Mr Tesoriero sent a similar email to Mr Papas on 25 March 2018 (which has already been partly extracted in Sections I.5 and I.20 above) summarising the upcoming payments on various property and asset acquisitions:
Ideally....
Try to allow me 1.5 for late this week which takes out all the bits and pieces and gives us some revenue every week...
On top of rozelle for this week or next week...
2.7m for Qld the week after (6th April)
which I can pay back the week after that or.... I can give you 1.65 towards Qld this week... but I think better to make use of the full 2 weeks....
3.2m Monday week securitised which will return us 80k a month and cover everything plus upfronts....
Deposit on the boat this week... the captain who is a moonee apparently said she will take us to the Bahamas for a week...
Gran prix week... Big night for me in case you can't tell by the email... I Love you brother.... there's a lot more BUT I need to tell you in person...
You happy for me to send the boat contract to Francis to review....?
Miami.... Malaka....
105ft.... Innnnnnnndaxiiiiiiii.....
819 Mr Tesoriero continued this pattern of identifying existing or potential acquisitions, then subsequently seeking funds from the FGFS cash flow administered by Mr Bouchahine and signed off on by Mr Papas. On 13 June 2018, Mr Tesoriero emailed Mr Papas and Mr Bouchahine:
Guys I just signed off on another 150k for tomorrow.
Tony the guys will deposit to forum group in the morning.
I'm working on hopefully extracting another 1.1 for next week…
Please if you get me info for David and financial commitments as requested in the morning it will help me to push.
On the 18th I need 300 to settle for Oakleigh then nothing for this till November. I will try to find this also but as a back up can you please try to allow.
820 I was not taken to evidence which enables me to conclusively determine for what purpose Mr Tesoriero appears to be working on raising funds to deposit "to forum group" and also extracting "another 1.1 [million] for next week". I do note that this email is sent proximate to the time when Forum entities were under pressure to make instalment payments due under the Standstill Agreement. The standstill period was set to expire on 15 June 2018 or upon payment of the balance owing for the full and final satisfaction of the Standstill Agreement, which was due by 4.00 pm on 15 June 2018.
821 On 13 August 2018, Mr Tesoriero emailed Mr Papas and Mr Bouchahine a summary of upcoming payments:
Guys if you're working thru stuff atm…
15k interest Jaf nominees today… 1.25m facility
15 or 16k architect today/tomorrow so that he does final piece for qld…
21k race team… this has been sitting from March and just really want to clear it if we can because the guy is going around….
around 20 odd k still sitting for q7…. again same deal as above… I just really don't want people in those circles going around saying we don't pay for 20 odd k a piece thats outstanding for both….
please come back to me with something guys….
when you guys get time… aside from the $….
email responses…
for Nick from the insurance….. so far he says he can take at least 40 k out of the present premiums….
for Andrew for the Aspro family fund guys…
for Allan for other funders…
for Robert Crossman.. same as above again…
822 By way of context, I note that by 22 October 2018, Forum appears to have resolved the drain on its resources occasioned by having to buy out the Maia Agreements for $58.85 million. It also had entered arrangements with the present financiers and the tainted funds had started by December 2018 when Mr Tesoriero sent his "wish list" to Mr Papas and Mr Bouchahine. On 3 December 2018, Mr Tesoriero emailed Mr Papas and Mr Bouchahine with the subject "wish list" describing outgoing payments for property developments and managing "extraction of equity". This is an email which I will return to throughout these reasons. Relevantly, the first email in the chain is from Mr Tesoriero:
Tony as discussed….
Ideally.. 20k gets rid of all project consultants pretty much
68k back for 67k I borrowed to pay for qld application
20 odd K for Architect
10k back to me for Architect… I paid him 10k on card to keep him happy
50k for loans interest…currently overdrawn again from the 1st... I'm still behind with these and have been catching up where I can to cover.. would be amazing if we can do more in next couple of weeks again
600k for Oakleigh on Friday which can then be paid back the following Friday post settlement
Hoping to have 2 permits issued in the new year which will enable further extraction of equity on 2 of the land parcels
Please let me know what we can do guys…the consultants that are a few hundred dollars that make up that 20k would be great to get rid of if possible as my phone runs red hot with these few
823 On 28 August 2019, Mr Tesoriero emailed Mr Papas and Mr Bouchahine with the subject "upcoming cash flow". Mr Tesoriero detailed updates on existing projects as well as new property acquisitions, such as petrol stations and a farm:
100k for petrol station deal due tomorrow
urbis 13k owed as per litigation awaiting on Francis to pay or not
Gadens lawyers 5k approx bill from last set of loans… waiting on confirmation
Contour planners 7k for completed permit on Oakleigh
2x overdrafts to pay out with CBA to put some old facilities to sleep 2x30k… whenever available… sooner the better
F3 overseas… 98k overdue by a month
500k for the farm and Bryson st development… probably a couple of weeks… maybe another 500k depending how finance tracks in another month after
824 On 18 September 2019, Mr Tesoriero emailed Mr Papas with the subject "cashflow projects". Mr Tesoriero provided updates on existing properties and introduced new opportunities including supermarkets, warehouses and cryptocurrency:
7 x 500k farm paid back in between as per time line email sent… this job then overlaps with Bryson st development project
Gold mine 100k nex month then 1.5 m probably 3 months after then another 1.5 m at some point before listing
800k boys deal on hold
400k roughly to start Atherton to get it to a point of funding for the build in spec and marketing drawings and engineering to tender
600k deposit Natalia ave next week another 1.2 m when we settle in 9 months plus stamps of roughly 300k maybe another 400k in charges for bits and pieces to start build
Gosford Woolworths 750k deposit next 2 weeks then another 1.5m in 9 months to settle plus stamps 400k
1m USD crypto fund... 70k a week return
Petrol stations should only be 800k in stamps in about 140 days from now at settlement
100k for that warehouse I sent you yesterday in Clayton… I went and saw it this arvo… cheap… [thumbs up emoji]
80 oddK euro for marketing program with Dylan this was due from Jan… need to get in asap so they can prep.. its less than a few weeks away
Please pull the eyes out and let me know what you want to do so I can either push or pull
825 Mr Tesoriero gave evidence that not all of the acquisitions or "discussion points" raised in his emails to Mr Papas and Mr Bouchahine ultimately came to fruition. For example, he said that the farm and Bryston Street development did not go ahead.
826 The property acquisitions also generated income through rental payments. Rent was received by each of the properties owned by one of the Tesoriero Entities or a Jointly Owned Entities in generally the same manner. Mr Tesoriero submitted that rents would generally be collected by the individual entity which owned the property (which was often a SPV), which was then collected and managed by Forum's accounts team under the direction of Mr Bouchahine. The accountants responsible for managing these payments were Mr Chin and Ms Fiona Yang. Mr Tesoriero referred to Mr Bouchahine, Mr Chin and Ms Yang as "our in-house accounting" team. The "in-house" team would then administer the interest payments on the property and any outgoings and expenses on those properties. Administering these payments was no small undertaking when understood in the context of the section 50 summary of "Additional property-related expenditure" which lists payments from FGFS, 26 Edmonstone Road and Canner accounts to entities relating to property development (for example, architects, design consultants, valuers, engineers and surveyors), property insurance (for example, Metrix and Metier3) and property maintenance (for example, utilities, water, council rates and land tax). The summary was not contested.
I.21.1 Commercial properties
827 The projects started with the acquisition of 26 Edmondstone Road, Bowen Hills on 11 April 2018 for $2.9 million by 26 Edmonstone Road, one of their Jointly Owned Entities, acting as trustee for 26 Edmonstone Trust. This property is an office building in Queensland used by Forum. The deposit was provided by Mr Papas and the property was leveraged with ING Bank (Australia) Limited against existing properties owned by Mr Tesoriero. The property was sold on 31 January 2022 and the net proceeds of the sale are held by the receivers.
828 On 16 January 2020, 14 James Street, a Jointly Owned Entity, acquired 14 James Street, Clayton South for $672,000. The contract for sale records the purchaser as Mr Tesoriero and/or nominees and was executed by Mr Tesoriero. This property is a warehouse which was used by Forum. It was subject to a mortgage with the Witten Family Pty Ltd which was discharged and subsequently from 20 July 2020 a mortgage with NAB.
829 14 James Street acquired the neighbouring properties around six months later on 20 July 2020. The properties are 3 warehouses at 9 Parsons Street, Clayton South for $406,000 each; 10 James Street, Clayton South for $1.04 million; 12 James Street, Clayton South for $1.04 million; 16 James Street, Clayton South for $406,000; 18 James Street, Clayton South for $406,000; and 8 Olive Street, Clayton South for $524,000. Part of the purchase price for each of the neighbouring properties was borrowed from NAB. These properties were also warehouses and were rented through a leasing agent. Rent was paid to Forum into a nominated account for 14 James Street held with the NAB. All of the properties purchased by 14 James Street are now sold.
830 On 11 June 2020, 1160 Glen Huntly Road, a Tesoriero Entity, acquired 1160 Glen Huntly Road, Glen Huntly for $1.672 million. The contract for sale recorded Mr Tesoriero and/or nominees as the purchaser and was executed by Mr Tesoriero. Mr Tesoriero gave evidence that the funds used to purchase this property included approximately $1.2 million borrowed from a private lender, Devnull Investments Pty Ltd, and the balance from Mr Tesoriero. The property is now sold and the net proceeds of the sale were paid into the Supreme Court of Victoria.
831 On 20 August 2021, Oakleigh Industrial Pty Ltd, an entity related to Mr Tesoriero, acquired 8-12 Natalia Avenue, Oakleigh for $6.45 million. This property is an office and warehouse space. The contract of sale recorded Mr Tesoriero and/or nominees as the purchaser and was executed by Mr Tesoriero. The property purchase was completed pursuant to a nomination deed executed by Mr Tesoriero on 20 August 2012 which nominated Oakleigh Industrial as purchaser. Under the nomination deed, Oakleigh Industrial reimbursed Mr Tesoriero for the initial deposit paid on the property. These funds are held on trust pending confirmation as to Mr Tesoriero's stamp duty liability. Part of the purchase price was borrowed from Lasky Finance Co Pty Ltd.
I.21.2 Residential properties
832 On 30 April 2018, 23 Margaret Street, a Tesoriero Entity, acquired 23 Margaret Street, Rozelle for $4.1 million. The registered proprietor was 23 Margaret Street acting as trustee for 23 Margaret Street Trust. On 1 May 2018, TIG borrowed the sum of $1.033 million, secured against family properties, to apply in settlement of the property at 23 Margaret Street. This property, although owned by a Tesoriero Entity, became Mr Papas' residence. The property was sold on 25 February 2022 and the net proceeds of the sale were paid into a controlled monies account.
833 On 18 September 2018, Canner, a Tesoriero Entity, acquired 12 Hartington Street, Elsternwick for $1.7 million. The registered proprietor was Mr Assaf Ben-David as nominee for Canner. Mr Tesoriero gave evidence that the funds used to purchase this property included approximately $1.02 million borrowed from CBA leveraged against the property itself, approximately $150,000 from Mr Tesoriero and the balance from Mr Papas. This property was a development opportunity and as at the close of the evidence the mortgagee was in possession.
834 On 13 December 2018, FGFS, a Jointly Owned Entity, acquired 2-4 Atherton Road, Oakleigh for $4.21 million. The contract for sale dated 18 May 2018 recorded Mr Tesoriero and/or a nominee as the purchaser and was executed by Mr Tesoriero. Mr Tesoriero gave evidence as to multiple sources of funding for the acquisition of 2-4 Atherton Road, Oakleigh:
[f]rom memory, I put down 100,000 holding deposit on the day, and then the gentleman at - the real estate agent gave me another couple of weeks or three weeks to come up with the balance for the 10 per cent. The building was bought for around 40 4 million, so I came up with the additional 300,000. Then, 70 per cent was taken from Thinktank, and then there was a second additional borrowing of another 10 per cent taken as - as a second mortgage over the property for the balance, so, I think, in the end, I think, FGFS might have funded 10 or 15 per cent of the building purchase.
835 Mr Tesoriero confirmed that the funds contributed by Mr Papas for the purchase of 2‑4 Atherton Road, Oakleigh were funds provided by FGFS:
[D]o you know who exactly purchased that property?
The property was purchased by Forum Group Financial Services and was owned by Forum Group Financial Services.
Okay. And can you tell us - so as far as you understand, where did the money come from for that purchase?
Bill got that money from Forum Group Financial Services, I understood, hence why it went in that entity.
Okay. So you said you "understood." Can you just describe the basis for your understanding?
As I said, every time I buy something or - and this was no different- there would be a discussion with Mr Papas about the metrics and numbers and whether he wanted to be part of it or whether it was, you know, something that he could contribute or whether I would have to contribute, and, this particular one, we worked out a number to go to at the auction, and - and then, you know, having spoken to banks prior to the auction - it was some three or four weeks, I think, that had transpired during the campaign - I had a fair idea of what the number would be that the banks would provide and - and the balance that would need to come from Bill or from FGFS, in this particular case.
And so you discussed that the money would come from FGFS?
Yes.
836 The property at 2-4 Atherton Road, Oakleigh has now been sold and the net proceeds of the sale have been paid into a trust account.
837 On 28 May 2019, Mr Tesoriero acquired two units, 305/48 and 306/48 Blenheim Street, Balaclava for $2.15 million. The registered proprietor is 308 Carlisle Street Holding Pty Ltd, which is not a respondent in these proceedings. The contracts of sale record Mr Tesoriero as the purchaser and were executed by Mr Tesoriero. These properties are unsold and understood to be leased.
838 On 23 November 2020, 64-66 Berkeley Street, a Jointly Owned Entity, acquired 64-66 Berkeley Street, Hawthorn for $7.95 million. The contract of sale records Mr Tesoriero as the purchaser and was executed by Mr Tesoriero. This property was a residential property which was purchased for Mr Tesoriero to live in and later develop. Mr Tesoriero gave evidence that around 90 percent of the funds used to purchase this property were borrowed from Judo Bank Pty Ltd and the balance was borrowed from Mr Papas.
I.21.3 Holiday rentals
839 On 28 June 2019, 5 Bulkara Street, a Jointly Owned Entity, acquired 5 Bulkara Street, Wagstaffe for $5.8 million. The deposit was provided by Mr Papas and the property was leveraged with CBA, with the balance provided by Tesoriero Entities. This property was mainly used as a holiday rental rather than a residence for Mr Papas or Mr Tesoriero and had a local agent who would manage any requests to hire or rent the property.
840 On 18 December 2020, 6 Bulkara Street, a Jointly Owned Entity, acquired 6 Bulkara Street, Wagstaffe for $9.5 million. This property is a holiday rental located next door to 5 Bulkara Street, another property acquired by a Jointly Owned Entity. Mr Papas had negotiated a private sale with the previous owner. Around 70-80% of the funds used to purchase this property were borrowed from the NAB. Similar to the 5 Bulkara Street property, rent for this property was collected through an agent specialising in holiday rental collection and then passed on to Forum's in-house accounting team. Both properties are now sold.
I.21.4 Petrol stations
841 Several regional petrol stations were acquired by Tesoriero Entities. Each petrol station property was acquired by its own SPV. The petrol stations were newly built at the time and were operational. The operators were Viva Energy and Dib Group. These were purchased through a combination of borrowed funds from ANZ and Judo Bank and vendor finance with a caveat across all of the properties such that the properties were settled progressively. The borrowed funds were arranged by a broker. Each of the petrol station properties was secured with a first mortgage with either ANZ or Judo Bank and a second caveat for the vendor, Aksara Holdings Pty Ltd. Rental payments received for each of the petrol stations were paid to the corresponding SPV's individual bank account. The petrol station properties are as follows:
842 On 1 May 2020, there were various property transactions:
(1) 123 Hight Street, a Tesoriero Entity, acquired two properties at 124 High Street, Taradale for $562,500;
(2) 4 Cowslip Street, a Tesoriero Entity, acquired 2 Cowslip Street, Violet Town for $3.5 million;
(3) 9 Main Street, a Tesoriero Entity, acquired one folio at 9 Main Street, Derrinallum, three folios at 9-13 Main Street, Derrinallum and two folios at 15 Main Street, Derrinallum; and
(4) 275 High Street, a Tesoriero Entity, acquired 9/269-275 High Street, Golden Square for $3.4 million;
843 Part of the purchase price of each property transaction was borrowed from Judo Bank. The contract for sale of each of the properties recorded Mr Tesoriero and/or nominees as the purchaser and was executed by Mr Tesoriero. On 13 July 2020, 89 Betka Road, a Tesoriero Entity, acquired 89 Betka Road, Mallacoota for $1.14 million. Part of the purchase price was borrowed from Judo Bank. The contract for sale recorded Mr Tesoriero and/or nominees as the purchaser and was executed by Mr Tesoriero.
844 On 15 July 2020, there were a further four property transactions.
(1) 14 Kirwin Road, a Tesoriero Entity, acquired 14 Kirwin Road, Morwell for $1.33 million;
(2) 160 Murray Valley, a Tesoriero Entity, acquired two folios at 160 Murray Valley Highway, Lake Boga for $1.78 million;
(3) 31 Ellerman Street, a Tesoriero Entity, acquired 31 Ellerman Street, Dimboola for $1.05 million; and
(4) 55 Nolan Street, a Tesoriero Entity, acquired 55 Nolan Street, Maryborough for $1.2 million.
Part of the purchase price of each property transaction was borrowed from ANZ. The contracts for sale recorded Mr Tesoriero and/or nominees as the purchaser and were executed by Mr Tesoriero.
845 On 18 December 2020, there was one further property transaction. 9 Gregory Street, a Tesoriero Entity, acquired 9 Gregory Street, Ouyen for $900,000. Part of the purchase price was borrowed from ANZ. The contract of sale records Mr Tesoriero and/or nominees as the purchaser and was executed by Mr Tesoriero. Payments recorded in the section 50 summary "Payments to other properties" are described in bank statements as "Aksara Petrol T3" in relation to 9 Gregory Street, Ouyen. These funds were not traced to any of the financiers in these proceedings. It is understood to correspond to the vendor.
I.21.5 Sources of funding for property acquisitions
846 From May 2017 onwards, there were no further investments in TIG in the form of share subscription or capital contribution. From that point forward, Mr Tesoriero says that his "investments" were made in the form of contributing to property purchases made by the Jointly Owned Entities.
847 Mr Tesoriero submitted that the properties purchased by the Tesoriero Entities and Jointly Owned Entities (identified in Sections I.21.1 to I.21.4 above) were financed through third party finance on a specific loan to value ratio. In the event of any shortfall, Mr Tesoriero would contribute funds by drawing on loans against the Tesoriero family properties or Mr Papas would contribute funds, or a combination of both. Mr Tesoriero gave evidence that he and Mr Papas would often "have money going backwards and forwards between ourselves" without any formal documentation or ledger to record when Mr Tesoriero lent money to Mr Papas or vice versa. It became clear during the course of cross-examination that Mr Tesoriero's references to funds contributed by Mr Papas or Mr Tesoriero were typically derived from the companies which they controlled or the properties owned by such companies. Alternate sources of fundings for the property and asset acquisitions were: Mr Tesoriero's family and their properties, Mr Papas' and Mr Tesoriero's existing investments, and third party financing. Before turning to each of these sources of funding, the table below sets out each of the properties purchased by the Tesoriero Entities and Jointly Owned Entities.
Date Amount Cumulative Amount Address purchased Purchased by Category of company
11.04.2018 $2,900,000 $2,900,000 26 Edmondstone Road, Bowens Hill QLD 4006 26 Edmonstone Road Jointly Owned Entity
30.04.2018 $4,100,000 $7,000,000 23 Margaret Street, Rozelle NSW 2039 23 Margaret Street Tesoriero Entity
18.09.2018 $1,700,000 $8,700,000 12 Hartington Street, Elsternwick VIC 3185 Canner Tesoriero Entity
13.12.2018 $4,210,000 $12,910,000 Lots 1 and 2 on Title Plan 092625B - Atherton Road, Oakleigh VIC 3166 FGFS Jointly Owned Entity
28.06.2019 $5,800,000 $18,710,000 5 Bulkara Street, Wagstaffe NSW 2257 5 Bulkara St Jointly Owned Entity
16.01.2020 $672,000 $19,382,000 14 James Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
01.05.2020 $562,000 $19,944,500 124 High Street, Taradale VIC 3447 123 High Street Tesoriero Entity
01.05.2020 $3,485,814.29 $23,430,314.29 2 Cowslip Street, Violet Town VIC 3447 4 Cowslip Street Tesoriero Entity
01.05.2020 $1,250,000 $24,680,314.29 9-13 and 15 Main Street, Derrinallum VIC 3325 9 Main Street Tesoriero Entity
01.05.2020 $3,428,571.43 $28,108,885.72 Unit 9, 269-275 High Street, Golden Square VIC 3555 275 High Street Tesoriero Entity
11.06.2020 $1,672,000 $29,780,885.72 1160 Glen Huntly Road, Glen Huntly VIC 3163 1160 Glen Huntly Road Tesoriero Entity
13.07.2020 $1,136,685.71 $30,917,571.43 89 Betka Road, Mallacoota VIC 3892 89 Betka Road Tesoriero Entity
15.07.2020 $1,324,285.71 $32,241,857.14 14 Kirwin Road, Morwell VIC 3840 14 Kirwin Road Tesoriero Entity
15.07.2020 $1,781,250 $34,023,107.14 160 Murray Valley Highway, Lake Boga VIC 3584 160 Murray Valley Tesoriero Entity
15.07.2020 $1,050,000 $35,073,107.14 31 Ellerman Street, Dimboola VIC 3414 31 Ellerman Street Tesoriero Entity
15.07.2020 $1,200,000 $36,273,107.14 55 Nolan Street, Maryborough VIC 3465 55 Nolan Street Tesoriero Entity
20.07.2020 $406,000 $36,679,107.14 Warehouse 1, 9 Parsons Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
20.07.2020 $406,000 $37,085,107.14 Warehouse 2, 9 Parsons Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
20.07.2020 $406,000 $37,491,107.14 Warehouse 3, 9 Parsons Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
20.07.2020 $1,035,300 $38,526,407.14 10 James Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
20.07.2020 $1,043,420 $39,569,827.14 12 James Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
20.07.2020 $406,000 $39,975,827.14 16 James Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
20.07.2020 $406,000 $40,381,827.14 18 James Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
20.07.2020 $523,740 $40,905,567.14 8 Olive Street, Clayton South VIC 3169 14 James Street Jointly Owned Entity
23.11.2020 $7,950,000 $48,855,567.14 64-66 Berkeley Street, Hawthorn VIC 3122 64-66 Berkeley Street Jointly Owned Entity
18.12.2020 $900,000 $49,755,567.14 9 Gregory Street, Ouyen VIC 3490 9 Gregory Street Tesoriero Entity
18.12.2020 $9,500,000 $59,255,567.14 6 Bulkara Street, Wagstaffe NSW 2257 6 Bulkara Street Jointly Owned Entity
Total property investment $59,255,567.14