The development has the capacity to deliver over 570 residences into the region
Centuria Bass Credit (CBC) has restructured $35 million of debt for an existing borrower to support a staged development strategy for sites in Baulkham Hills and Rouse Hill.
Both locations are within Sydney’s Northwest growth area along the new Sydney Metro Line, which is set to deliver trains to the central business district every four minutes starting in late August. The sites collectively have the potential to add over 570 residences to the region, benefiting from the enhanced transit connections.
“CBC is excited to continue their relationship with this borrower and strengthen the portfolio in Sydney’s Northwest Growth Area,” stated the non-bank lender and investment manager.
Last month, Centuria Bass Credit also refinanced a $13.5 million industrial asset in Cheltenham, Victoria, shifting the loan from a major bank to provide additional working capital for an existing client.
The property, which includes a warehouse and office space, spans 12,000 square metres and is located 20 kilometres southeast of Melbourne’s central business district.
The asset, which holds significant development potential, is strategically positioned near key infrastructure such as highways, ports, and airports. The property’s office space enhances its appeal to businesses in the manufacturing and logistics sectors.
Centuria Bass Credit recently secured a new $150 million warehouse facility, which includes an initial $100 million senior secured commitment from global investment bank UBS. The funds will be used to finance first mortgage bridging loans and residual stock loans for real estate borrowers, increasing Centuria Bass Credit’s assets under management to $1.9 billion.
The financing arrangement with UBS diversifies Centuria Bass Credit’s funding sources and is structured to allow for scalability in the short to medium term.
Centuria Bass Credit was founded in 2016 by joint chief executives Giles Borten and Nick Goh. In 2021, Centuria Capital Group acquired a 50% stake in the company, which it recently increased to 80%.
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