Good evening,

A $7 billion non-bank commercial real estate lender that’s backed some of Sydney’s eastern suburbs’ largest residential property developments is eager to get new projects off the ground with a fresh funding pool.

Street Talk can reveal Pallas Capital has inked a $185 million construction warehouse facility with a leading Australian bank.

The terms of the facility allow Pallas to internally assess and approve construction loans up to a threshold without having to go through the painstaking process of seeking bank approval. This should give Pallas a leg up in the sector, getting its funds quickly into the hands of developers.

The agreement will also allow Pallas to blend project funding from its new institutional warehouse facility with funds raised from private investors, lowering its overall cost of capital.

Read the full story tomorrow and more on the Street Talk page.

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Street Talk understands the $6.4 billion APA Group is about to go into cost-cutting mode in an effort to arrest its declining share price and get back in shareholders’ good books.

The sharemarket closed higher in the first session of the week, after a rebound in the banks outweighed outsized share price falls from index heavyweights WiseTech and Reece.

Click here for the latest equity market wrap.