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A new wholesale real estate debt fund offering attractive monthly income secured by first-ranking mortgages over 80+ residential properties in a fast-growing suburb with strong underlying demand.
The Centuria Bass First Mortgage Fund No.12 invests in a residual stock loan facility with an experienced property development group. Featuring a fixed rate and zero construction risk, this opportunity aligns well with investors seeking lower risk exposure to real estate debt.
Residual stock loans often repay incrementally as assets are sold, rather than only at the end of a loan term like other loan types, allowing investors to recoup their principal throughout the investment period.
9.75%
Forecast IRR p.a. net of all fees and costs before tax1
65.0%
LVR2
12
Month term3
Monthly
income1
Property and location
The loan facility is secured over 81 two-story, semi-detached townhouses and three freestanding, detached houses located in Marsden Park, a suburb within the North West Priority Growth Area.
These recently completed, high quality residential properties support the area’s rapid population growth, which is forecast to grow 71% by 2031.4
Located within the Blacktown local council area, approximately 50km northwest of the Sydney CBD and 20km of the Parramatta CBD, Marsden Park is emerging as a highly sought-after suburb for families due to its proximity to:
- major transport links
- employment opportunities
- schools
- shopping centres
- parks and recreation.
Median house prices in Marsden Park have increased over the past 12 months, indicating strong underlying demand for residential dwellings in the area.5
Marsden Park falls within the North West Priority Growth Area and is set to benefit from committed infrastructure investment driven by the development of the Western Sydney Airport and Aerotropolis.
About the Sponsor
The Sponsor is a highly acclaimed, family-owned property developer, Universal Property Group Pty Ltd (trading as Bathla), established in 1997.
The Group has a proven track record of delivering and selling residential projects, being involved in the end-to-end process of all their projects and having completed multiple large-scale developments, including:
- 22,000 apartments designed and built across 58 suburbs
- multiple standalone houses
- various commercial and retail precincts.
The Sponsor has provided a personal guarantee and the parent company, Universal Property Group Pty Ltd, has also provided a corporate guarantee.7
Transaction summary
| Facility type | Secured residual stock loan facility |
|---|---|
| Total raise amount | Up to $43.0m |
| LVR | Up to 65.0%2 |
| Investor return | Forecast 9.75% IRR p.a. (net of fees and costs before tax)1 |
| Interest payments | Fixed rate |
| Term | 12 months from the initial issue of Units3 |
| Secured properties |
|
| Additional security |
|
| Valuation | $66.2m ‘as is’6 |
Investment timeline
| Applications open | 2 December 2024 |
|---|---|
| Applications close | 13 December 2024 |
| Application amount due | 100% payable upon application |
Why invest?
Our series of Centuria Bass first mortgage funds have a track record of delivering strong performance outcomes for investors, and are designed to provide attractive monthly income, downside protection and inflation-hedging benefits.
Register your interest
Complete this form to express interest in the Centuria Bass First Mortgage Fund No.12 Fund and receive a copy of the Information Memorandum.
Please note you must qualify as a wholesale investor to invest in the Fund.
1. Forecast investor IRR of 9.75% p.a based on a fixed rate of return (net of all fees and costs before tax). This forecast is subject to the assumptions and risks set out in the Information Memorandum for this product and is not guaranteed. Distributions are expected to be paid monthly but is not guaranteed.
2. The LVR considering the ‘as is’ value of the first ranking Secured Properties only is 65.0%.
3. Loan term expected to be 12 months. However, the term of the Fund may be extended or reduced.
4. forecast.id.com.au – Blacktown City Council Population Summary.
5. CoreLogic – Suburb Statistics Report Marsden Park NSW 2765 prepared on 7 November 2024.
6. ‘As is’ net GST valuation. M3 Property – Various Residential Townhouses – 1132 and 1086 Richmond Road, Marsden Park NSW, 25 September 2024.
7. There is a risk that should at some point in the future the personal/corporate guarantees need to be enforced, the Sponsor/Borrowers may have no assets to enforce these guarantees against.
Disclaimer: This document has been prepared by Centuria Bass Financial Services Ltd ACN 617 409 588 AFSL 499339 (Trustee), the trustee of the Centuria Bass First Mortgage Fund No. 12 (Fund) and Bass Securities Pty Ltd ACN 624 793 102 (Manager), the Manager of the Fund to provide general information relating to the Fund. The Manager is a corporate authorised representative of the Trustee. Units in the Fund are only available for subscription by wholesale clients within the meaning of section 761G of the Corporations Act 2001 (Cth) (Wholesale Client). By receiving this document, you represent that you are a Wholesale Client. This document is not provided to any person located in a jurisdiction where its provision or dissemination would be unlawful. This document provides a high-level summary of information relating to the Fund only and should be considered in conjunction with, the Information Memorandum and other constituent documents of the Fund. You should not treat the contents of this document as advice relating to legal, taxation or investment matters. In preparing this document, the Trustee and Manager have not considered your objectives, financial position or needs. Before making any decision, we recommend you consult a qualified financial professional to take into account your particular investment objectives, financial situation and needs. Every effort has been made to ensure that the information provided is accurate. Information can change without notice and the Trustee and Manager do not give any warranty as to the accuracy, reliability or completeness of information within this document. To the maximum extent permitted by law, the Trustee, the Manager and their respective officers, employees and agents exclude and disclaim all liability for any losses, damages or costs incurred by you as a result of any investment on the basis of this document, including for the inaccuracy or incompleteness of any statements (including forward-looking statements), opinions or information in this document. This document is not an offer for, and should not be taken to constitute, an offer to invest in the Fund. There are risks in investing in the Fund, which includes the risk that part or all of your investment may be lost. The information contained in this document is confidential and is provided for the exclusive use of the recipient to whom this copy has been issued and may not be copied or distributed except to the recipient’s professional advisers (who must be informed of its confidentiality).