Developer Acquisition Fund · A$20–50M Facility
Vendor Finance.
Land Banks. No Money Down.
F2K acquires effective control of late-career developers' entitled land banks for 5–15% upfront — with the balance structured as vendor finance repaid from project proceeds. Two transactions already executed. National rollout funded by an A$20–50M committed acquisition facility.
10–20
Target deals
50–500+
Lots per land bank
5–15%
Upfront capital
12–18%
Target return p.a.
The Opportunity
A Generational Window
Australia's development sector is approaching a generational transition. A cohort of founder-developer principals — many now in their 60s and 70s — built land banks and project pipelines over decades, often in regional and growth-corridor markets where personal relationships with councils, state agencies, and community organisations are the primary competitive asset.
These principals face a common dilemma:
- →Their developments are not complete — active projects still need management, sales, and delivery.
- →They have no succession — family members are not involved, and no credible buyer exists.
- →They do not want their life's work sold piecemeal or mismanaged by a generic acquirer.
- →They want to step back from day-to-day operations while retaining income, influence, and respect.
F2K's proposition resolves all four constraints simultaneously.
The F2K Proposition
What F2K Offers Founders
Modest upfront payment
Typically 5–15% of assessed land bank value, payable on execution. Funded by the acquisition facility — not from F2K balance sheet.
Vendor finance balance
Remainder structured as vendor finance — repaid from project proceeds as dwellings sell or lease. No balloon payment risk to F2K.
Operational control
F2K appointed as development manager or substitute developer across all current and pipeline projects. Full discretion over procurement, build methodology, and delivery.
Director / Consultant role
Founder retained as Director or Senior Consultant. Ongoing monthly retainer. Maintains government and community relationships on F2K's behalf.
Profit alignment
Founder retains a residual interest in project upside — trailing commission or profit participation — ensuring continued engagement and goodwill.
Legacy preservation
Their projects are completed, not abandoned. Their relationships continue. They are not 'sold out' — they are 'brought in' as senior advisors to the next chapter.
Already Proven
Humfrey & Barr — Two Transactions Executed
Two transactions have already been executed using this model. Barry Humfrey and Bob Barr — each long-standing developers with active projects and deep government relationships — have both accepted F2K as development manager across their respective pipelines.
Both founders retain a consulting Director role and ongoing income. Both transactions were structured as vendor finance buy-ins with minimal upfront capital. These are proof-of-concept transactions that validate the model and provide the template for national rollout.
Full transaction documentation available under NDA on request.
Capital Structure
Investor Funds Only the Equity Wedge
The acquisition facility funds the upfront payment that secures operational control and founder buy-in. The land bank itself underpins the development financing that funds construction. Investors are not funding houses. They are funding the key that unlocks the door to the land bank.
Secures control & founder buy-in
No investor capital required
Land bank is collateral
Initial operating costs pre-revenue
Security & Alignment
Six Layers of Protection
First Charge
Over F2K's development management rights and contractual interests in each acquired project.
Land Caveat
Caveat or registered interest over the underlying land parcel for the duration of the facility.
Receivables Assignment
Vendor finance receivables assigned as additional collateral.
Personal Guarantees
From F2K co-founders Dennis McMahon and Uwe Jacobs, up to facility limits.
Step-In Rights
If F2K underperforms as development manager, the investor may step in or appoint a substitute manager.
Delivery-Based Fees
F2K earns its 12% integration fee only on completed homes. If homes are not delivered, F2K does not get paid — and your capital is not serviced.
Where DAF Fits
One of Three F2K Capital Engines
DAF is one of three vertically integrated F2K capital engines. DAF investors receive right-of-first-offer to participate in OMQ and GREH alongside this facility.
The Platform
OMQ →
Pre-qualified offshore modular manufacturers — F2K's certified delivery layer.
The Land — You are here
DAF
Vendor-financed land bank acquisition facility.
The Ownership Pool
GREH Fund 1 →
Tokenised MIS over completed dwellings (pre-AFSL, ROI only).
Get In Touch
Register Your Interest
For private credit partners and family offices interested in the DAF acquisition facility, F2K co-founders Dennis McMahon and Uwe Jacobs are available for an introductory meeting at your convenience. Full IM and Humfrey / Barr transaction documentation provided under NDA.
This page is a confidential summary for preliminary discussion with prospective wholesale and sophisticated investors only within the meaning of section 708 of the Corporations Act 2001 (Cth). It does not constitute a Product Disclosure Statement or offer to the public. Forward-looking statements and target returns are objectives, not guarantees. Independent advice should be obtained before making any investment decision.