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.$270million to c.$2billion 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. 

More related readings 

ISPT issues $1.5 billion Syndicated Sustainably-Linked Loan Facility 

Alta Partners with Australia's Ray White Capital 

US Giant PGIM Real Estate completes first close of new $750m Australian debt strategy 

Centuria increases stake in strongly performing real estate finance business