Bass Property Credit Fund – Wholesale offer

The Bass Property Credit Fund (BPCF) aims to provide wholesale investors with strong risk adjusted returns by investing in a diversified portfolio of mid-market property credit transactions.

BPCF invests in a diversified portfolio of predominantly first mortgage debt investments secured by Australian real estate. Deployed funds have consistently yielded strong, risk adjusted returns, at a premium to the underlying money markets¹.

Centuria Bass has generated out-performance across its portfolio of investments through its skill in investment origination, tactical investment allocation and intensive investment management¹.

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8-12%²

Target IRR

First and second

mortgage

Monthly

distributions

$100,000

Minimum investment

Key features

Benefits for investors in the Bass Property Credit Fund

Centuria partnership – The Centuria Bass joint venture couples Centuria’s institutional scale and strength with Bass Capital’s debt and funds management experience bringing a specialised offering to investors.
Strong investor returns – Centuria Bass property credit investments have a track record of outperformance since inception.
Downside protection – Strong focus on capital preservation with property security required on all transactions.
Diversification – The Fund’s property credit portfolio is diversified with exposures differentiated by geography, sub-sector and spread across multiple borrowers.
Mid-market and tactical focus – Opportunity to capitalise on the mid-market sector which has been traditionally underserviced, in addition to leveraging Centuria’s capabilities for larger and/or tactical projects and specialised opportunities.
Stable income – The Fund aims to provide investors with an income stream with regular distributions on a monthly basis.
Access to a high performing fund manager – The Investment Manager has a highly experienced and proactive management team and Investment committee whose convictions have been validated by a distinguished track record and proven investment strategy.
Access to a dislocated market – The strategy of the Fund seeks to capitalise on a property debt market dislocation that represents a significant funding gap and is growing.

Fund portfolio

A mature portfolio diversified across various geographies, sub-sectors, loan types and multiple borrowers.
Consists predominantly of first mortgage investments with a mid-market focus.
Strategy of lending to high quality borrowers with conservative LVRs and strong covenants.
Lowly geared portfolio with current weighted average LVR of 63.0³.

Fund performance

(as at 31/8/2025)

	1 mth (%)	3 mth (%)	6 mth (%)	1 yr (% p.a.)	Since inception~ (% p.a.)
Total Net Return*	0.74%	2.18%	4.56%	9.33%	37.92%
Average annualised monthly IRR**	9.02%	9.02%	9.44%	9.74%	9.48%

* Simple rate of return net of fees and costs (i.e. simple percentage increase by month).
**Average annualised Internal Rate of Return (IRR) over the period corresponding to the table.
^ Calculated as the average monthly annualised IRR since inception excluding the first 6 months ramp up period.

Fund distributions

(previous 6 months)

	Mar-25	Apr-25	May-25	Jun-25	Jul-25	Aug-25
Distribution (cpu*)	0.79	0.81	0.81	0.70	0.76	0.74

* cpu = cents per unit. Distribution figures are monthly and are not annualised.

Platform availability

You can choose how to invest – either directly with us or via a range of investment platforms. The BPCF is currently available on the following platforms:

APIR code: BSS2638AU

Morningstar
HUB24
Netwealth
Mason Stevens
Praemium
Powerwrap

Research ratings and awards

SQM Research***

Request an Information Memorandum (IM)

To register your interest for the Bass Property Credit Fund and receive an Information Memorandum (IM), please complete the form. The IM will be sent to the email address you supply.

You can also request a copy of the Bass Property Credit Fund information memorandum by calling on 1300 22 44 24 or emailing our Investor Services team.

"*" indicates required fields

Any questions?

Call our Investor Services Team on 1300 22 44 24 or email info@centuriabass.com.au.

Application and redemption FAQs

I have submitted my application to invest. What happens next?
Any applications received between the 1st and the 19th of the month will receive a capital call to the nominated email address on the 20th with 5 business days to fund. Any applications received from the 20th of the month onwards will receive a capital call within 24 hours, with funds due by the end of the month. Emails with confirmation of payment will be sent within 1 to 2 business days of funds being matched to your application.

Once all required fund and AML documents have been received, applications are allotted effective the 1st of the following month. Welcome letters and unitholder statements should be received on or around the 10th of the month.

How can I increase my position, or add to my investment?

As an existing investor, you can increase your allocation via the registry service provider or via a form submitted to centuriabass.enquiry@centuriainvestor.com.au. Please contact our Investor Services team at info@centuriabass.com.au or on 1300 22 44 24 to receive a copy of this form.

How can I request a redemption?

You can submit a short form obtained on the Centuria Investor platform directly to the Centuria Investor Services team at contactus@centuria.com.au, or directly to the registry services provider at centuriabass.enquiry@centuriainvestor.com.au.

When do I need to contact the registry services provider?

When submitting a redemption request, changing your contact details, changing your banking details or updating an adviser.

Why Centuria Bass?

Centuria Bass Credit (CBC) is an unlisted, Australian real estate debt and investment manager. ASX-200 listed Centuria Capital Group (ASX: CNI, Centuria) acquired a 50% interest in CBC in 2021 and in April 2024, further increased its investment to a controlling stake of 80%. The investment followed an ongoing review to meaningfully scale Centuria’s platform into the real estate finance business.

Read more information about the JV which expands Centuria’s unlisted funds platform, providing a diversified suite of investment opportunities for its clients, while offering non-banking finance for real estate secured transactions including development projects, bridge finance and residual stock.

Past performance is not necessarily indicative of future performance.
Fund target IRR. Target indicated is based on current portfolio and expected pipeline and a forecast only and is not guaranteed.
As at 30 June 2025. Loan LVRs based on the latest valuation report as at the date of the loan approval by the Investment Committee (IC). Includes cash held in the Fund at quarter end.

***SQM Research rating: SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. Information contained in this document attributable to SQM Research must not be used to make an investment decision. The SQM Research rating is valid at the time the report was issued, however it may change at any time. While the information contained in the rating is believed to be reliable, its completeness and accuracy is not guaranteed. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the information memorandum and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.