Seems George Callianiotis must have some money, just not enough...

Seems George Callianiotis must have some money, just not enough to pay the outstanding debt on Wollongong!
ALPHA CARLYLE MACKAY – A STEP ABOVE

Queensland based developer and builder George Callianiotis is proud to present the new Alpha Suites Mackay. With construction due to commence in September 2014, completion will provide Mackay with a premier apartment building managed by Australia’s newest national hotel brand, Alpha Hotels and Resorts.
http://www.alphamackay.com.au/infopage/location-overview-of-alpha-mackay-apartments

Take note of the address 48–52 Carlyle Street, Mackay Queensland 4570  This site used to belong to the PIF as well
http://www.nsxa.com.au/ftp/news/021725441.PDF