Centuria Bass secures c.$150m warehouse facility including $100m senior financing provided by UBS

• New $150m warehouse facility to fund middle-market real estate bridging finance and residual stock loans
• UBS AG Australia Branch providing $100m senior secured financing, ability to scale in short/medium term
• Diversifies Centuria Bass’ funding sources and liquidity; AUM increases to c.$2bn
• Reaffirms Centuria’s conviction in real estate credit funds.

Real estate non-bank lender and investment manager, Centuria Bass Credit (“Centuria Bass”), has secured a new c.$150 million warehouse facility, with an initial $100 million senior secured commitment from global investment bank, UBS.

The warehouse will exclusively finance first mortgage bridging finance and residual stock loans to real estate borrowers.

The new warehouse increases Centuria Bass’ Assets Under Management (AUM) to $1.9 billion¹.

The new financing commitment from UBS further diversifies Centuria Bass’ funding sources and has been structured to scale in the short to medium term.

Centuria Bass was established in 2016 by the Joint CEOs, Giles Borten and Nick Goh. Centuria Capital Group (ASX:CNI or “Centuria”) secured a 50% interest in the business in 2021 and recently increased its investment to 80%.

Giles Borten, Centuria Bass Joint CEO, said, “We are very pleased to have UBS as a financing partner to assist us provide the domestic market with finance on short terms of less than 24 months. We are targeting the middle-market real estate finance sector, which is often overlooked.”

The new warehousing facility will operate alongside Centuria Bass’ existing closed-ended and open-ended private credit funds.

Holly Clements, UBS Head of Leveraged Capital Markets, ANZ, said, “The non-bank real estate lending sector is a key growth sector in Australia. UBS is pleased to be partnering with Centuria Bass to provide this financing and support their further growth in this important market.”

Jason Huljich, Centuria Joint CEO, added “This financing partnership is testament to the non-bank real estate finance sector’s strong tailwinds and reaffirms Centuria’s conviction in real estate credit funds. Within the past three years, Centuria Bass has grown its funds under management from c.$270 million to c.$2 billion and looks to capture further tailwinds from this sector. We are pleased to further expand our institutional partnerships through our first financing commitment from UBS. The new facility further diversifies Centuria’s capital sources and liquidity with the ability to immediately deploy funds.”

Centuria Bass provides private credit real estate finance throughout Australia and New Zealand with offices in Sydney, Melbourne, Adelaide and Auckland.

1. As at 30 June 2024.