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Lane Cove, NSW

Private Credit is “providing a missing piece” in housing supply says CBC Centuria Bass Australian Property Development and Finance Index 2024 findings

• 75% of respondents say avg loan size increased in five years hitting $10-20million

• Stalled projects creating ‘missing piece’ in capital stack; perceived cusp of equity gap closing

• Non-bank lenders playing a significant role as part of multi-lender strategy

SYDNEY (Tuesday, 12 November 2024) – New research from Australian real estate funding solutions provider, Centuria Bass Credit (CBC or ‘Centuria Bass’), reveals developers are taking on higher levels of debt to fund projects, many of which have been delayed due to challenging market conditions.

According to the inaugural Centuria Bass Australian Property Development and Finance Index 2024, which surveyed 67 developers, investors, fund managers and brokers, middle market loan sizes are increasing with the average loan now sitting between $10 million and $20 million.

Three out of four respondents (75 per cent) say their average loan size has risen in the past five years, indicative of higher construction interest costs.

Nick Goh, Centuria Bass Joint CEO, says internal data confirms the finding with the average Centuria Bass loan size more than tripling from $8.35 million in 2019 to $30.7 million in 2024, with the vast majority in residential housing projects. Centuria Bass currently manages c.$2 billion in funds under management1.

Mr Goh says many developers require further funding to get their projects out of the ground and a financial tipping point may be in sight.

“In the past three years, a number of projects have stalled, which means developers have increased their leverage to cover higher than anticipated costs. Subsequently, many developers are now facing severe constraints, further delaying project commencements. In short, they are left with a missing piece in the capital stack,” says Goh.

“For many projects to advance, we need to see stability in construction costs and sales prices need to increase to support the levels of bank debt funding required. Without these factors, developers need to find some equity.

“Alternatively, private lenders have the flexibility to take a higher risk position, providing a higher loan to value ratio by taking a view on improving market conditions in the future. This is where private lenders provide more flexibility.

“From discussions with our developer clients private credit is enabling developers to pass a tipping point with funding solutions to fill these equity gaps, which enables more sites to be acquired for impending project starts. Private lending is becoming a critical piece in enabling greater supply of residential housing construction.”

Across the Centuria Bass portfolio, Mr Charlie Robertson, Managing Director and Head of Origination, said there is sales momentum in the lowest price quartile – particularly house and land packages up to $850,000 – while more spacious and expensive apartments in smaller, high-quality developments are in demand.

Developer Wayne Sun, Founder and CEO of Sun Property Group (SPG) is a beneficiary of Centuria Bass’ private lending flexibility. Wayne has successfully targeted the high-end apartment market in Sydney and Melbourne for the past decade, and believes this market niche has a long way to run, fuelled by the growing number of ageing downsizers.

Mr Sun says when it comes to large luxury apartments, where prices can exceed $35,000 a square metre, buyers often want to see the completed product before buying, which means it’s crucial to secure a finance partner willing to back projects without pre-sales.

“I think that is one of the reasons why in the last couple of years non-bank lenders have played a significant role in the whole development scenario,” Mr Sun says.

SPG’s latest project is the recently completed The Brookville, a super-luxe 10-apartment development in Toorak, that has aroused robust interest among local homeowners who want to downsize but stay in the prestigious suburb close to friends, family and amenities.

He is optimistic the Victorian Government’s recent decision (21 October 2024) to reduce stamp duty for all buyers purchasing off the plan projects over the next 12 months will stimulate property sales in Victoria.
“It’s a great move that will save buyers money,” Mr Sun says.

Other Centuria Bass Index findings include 69 per cent of projects respondents are involved with have multiple lenders, a reflection of project size and financial risk management, while two-thirds advised they or their clients plan to restructure or refinance their debt portfolio within a year.

Construction finance for land sub-division projects has been the loan type in the highest demand over the past two years, according to the survey, but there’s a growing appetite for bridging and residual stock loans. Mr Robertson says there is increasing anecdotal evidence more developers are willing to proceed with projects that have been delayed due to market conditions.

“A lot of developers seem to be getting prepared for the cycle to turn and the recent international rate cuts could be the trigger," he says.

“We expect demand for new homes to remain positive over the next few years because of the current significant undersupply of properties, government initiatives to alleviate the housing crisis and easing interest rates.”

Centuria Bass was founded in 2016 and has since grown to c.$2 billion in funds under management (FUM)*. Since its inception, Centuria Bass has provided compelling returns to wholesale investors on secured private credit loans.

*As at 30 June 2024.

November 2024

CENTURIA BASS AUSTRALIAN PROPERTY DEVELOPMENT AND FINANCE INDEX 2024

Over the past six months, Centuria Bass Credit has restructured 9 loans
across the portfolio to increase funding lines in response to evolving borrower needs. CBC’s proactive management approach means that we work with our borrowers to identify new or adapted solutions that can best assist them, particularly when markets have changed during the loan term. Our ability to be
flexible and adapt to changing environments sets us apart from standardised and
rigid real estate lending.

October 2024

CENTURIA BASS UPSIZES 9 LOAN FACILITIES SECURED BY OVER
$330M OF REAL ESTATE

CBC has refinanced newly built luxury apartments in Toorak, VIC for an existing borrower client at an LVR of 74%. Located 5km from the CBD, Toorak is one of Melbourne’s most exclusive suburbs with notable access to prestigious schools, public transport, public parks and recreation. The project has a gross
realisable value in excess of $35m and features top quality materials and finishes.

This residual stock loan will allow the borrower to refinance their current
construction facility which reached maturity, into an extended selldown structure. With discerning luxury buyers in Toorak wanting to view finished product before making their downsizing decision, it made sense to restructure and allow the
borrower time to maximise their opportunity to present the product in its best light,
and in turn optimise their returns.

CBC is proud to continue to support and strengthen our relationship with this
existing borrower as well as expand the metropolitan Melbourne portfolio.

September 2024

CENTURIA BASS REFINANCES $35.2M APARTMENT PORTFOLIO IN TOORAK

Centuria Bass has refinanced a portfolio of NSW pubs, structured to fund refurbishment works and extend trade-up support for three operating assets. The
pub portfolio is diversified across locations in Western Sydney and the North Coast of NSW, benefiting from five income streams including food, beverage, retail, gaming and accommodation.

Centuria Bass was able to deliver an $88m facility structured for the specific needs of a very experienced hospitality operator, and we are excited to make a sizeable
investment in this alternative asset class.

September 2024

CENTURIA BASS REFINANCES $208M PUB PORTFOLIO FROM MAJOR BANK

Centuria Bass is excited to announce that as of August 2024, we have now
reached over $2bn in Funds Under Management (FUM). In just 3 years since partnering with Centuria Capital Group in 2021, our FUM has grown 7x over,
increasing from $270m, to now over $2bn.

At Centuria Bass, our expertise, ingenuity and discipline underpin every decision we make. We are incredibly proud of our fantastic team and clients who have been a part of our journey through all of its new phases, and we can't wait to share in
our continued success.

September 2024

CENTURIA BASS GROWS FUM TO OVER $2BN

Winner: Mortgage Fund of the Year

SYDNEY (Thursday, 12 September 2024) – Real estate non-bank lender and investment manager, Centuria Bass Credit (“Centuria Bass”), won the prestigious Mortgage Fund of the Year award at the annual Financial Newswire/SQM Fund Manager of the Year Awards, in Sydney on Thursday 12 September.

The accolade was received for the unlisted, open-ended Centuria Bass Credit Fund (CBCF), which offers first ranking mortgages across a highly diversified portfolio by geographies, terms, sub-sectors and borrowers to qualifying wholesale investors. CBCF was established in 2021 and has delivered annualised returns of 9.08%* since inception and 9.4%* net returns during the 12 months to 31 July 2024.

The black-tie gala event, hosted at the Four Seasons Hotel in Circular Quay, brought together the fund management industry’s most highly regarded professionals across Australian and international equity markets, real estate investment trusts (REITs), direct property funds, fixed-income funds and a selection of specialised funds.

Yehuda Gottlieb, Centuria Bass Managing Director of Funds & Distribution, said, “The Fund Manager of the Year Awards are highly coveted. It was the first time Centuria Bass threw its hat into the ring for the Mortgage Trust category and we are ecstatic to have won, especially against highly regarded peers.

“Many of our loans are to the residential sector and its rewarding knowing that we are helping to facilitate new homes for the nation against a backdrop of a significant housing shortage. We concentrate on the middle-market within the real estate sector, which is often overlooked because this band is typically considered too small for institutions and too large for family offices. So it seems Centuria Bass is just right for many residential developers.”

SQM Research analysed the performance of more than 10,000 active funds for the awards, assessing data across a three-year period. The judging took into account risk adjusted returns during this period in addition to investor returns.

For more information, visit: Disciplined approach forges new path in non-bank lending - Financial Newswire: https://financialnewswire.com.au/funds-management/disciplined-approach-forges-new-path-in-non-bank-lending/.

*This is an average annualised Internal Rate of Return (IRR) since inception (2016), excluding the first 6 months of ramp up period. Annualised IRR’s are calculated based on monthly Net Asset Value changes and assumes reinvestment of distributions. Past performance is not indicative of future performance.

*Simple rate of return (i.e. simple percentage increase by month)

Disclaimer:

This communication is issued by Centuria Bass Financial Services Ltd., ACN 617 409 588 AFSL 499339 (Centuria Bass), the trustee for the Centuria Bass Credit Fund (Fund) and is not a recommendation or personal advice in relation to any products offered by Centuria Bass. The Centuria Bass Credit Fund (CBCF) is an unregistered managed investment fund available for investment only from wholesale investors within the meaning of section 761G of the Corporations Act (Cth). The information contained in this communication is general information only and does not take into account the objectives, financial situation or particular needs of any person. You should consider whether this information is appropriate for you and consult your financial or other professional advisor before making any investment decisions. An investment in the Fund carries risk. As the Fund invests in commercial property debt it carries the usual credit risks associated with investing in debt funds. Risks can impact on distribution and capital returns over the term of the Fund. It is important that you read the Information Memorandum (IM) and understand the risks of investing, Centuria Bass and its associates will receive fees in relation to an investment in the Fund as disclosed in the IM. Investment in the Fund is subject to risk including possible delays in payment or loss of income and principal invested. Centuria Bass does not guarantee the performance of the Fund.

September 2024

CENTURIA BASS WINS MORTGAGE FUND OF THE YEAR

Centuria Capital Group recently released its FY24 results, boasting a 46% growth in its real estate finance assets under
management, with Centuria Bass reaching $1.9bn. Our growth was supported by a new $150m debt warehouse facility,
which includes $100m senior financing from UBS.
Being part of a $21bn ASX 200 funds manager, with property experts across Australia and New Zealand, gives Centuria
Bass the unique ability to leverage insights from local industry experts to make informed decisions that help get your
project funded faster.

September 2024

CENTURIA & CENTURIA BASS FY24 RESULTS

In just half a year, Centuria Bass has funded projects exceeding $225 million across 5 locations in Melbourne. The
combined financing will facilitate delivery of more than 600 dwellings into Melbourne’s growth areas. With housing supply
targets under pressure to be met, the facilitation of homes for over 2,200 residents will be welcome news to a market
experiencing supply stress.
At Centuria Bass, we're not just lenders; we're partners in your success story. Committed to crafting tailor-made lending
solutions, we're here to support the diverse needs of our clients across Australia.

August 2024

CENTURIA BASS FINANCES PROJECTS WORTH $225M IN MELBOURNE

Centuria Bass Credit has structured a 67.5% LVR facility to acquire 22 strata lots in Elizabeth Bay, NSW set to be redeveloped into a $65m boutique apartment building. Elizabeth Bay is a blue-chip suburb in the exclusive eastern suburbs of Sydney located within 2km of the CBD.

The strategic acquisition leverages the site’s close proximity to Kings Cross train station, Rushcutters Bay Park, leading private schools and local retail amenities. The Development Approved scheme will deliver a 5-storey building featuring 10 apartments with rooftop communal space. CBC are excited to facilitate this multi-lot acquisition for our borrower, and expand the metropolitan Sydney portfolio.

August 2024

CENTURIA BASS BACKS MOVE FOR $65M BOUTIQUE DEVELOPMENT IN SYDNEYS EASTERN SUBURBS

Centuria Bass Credit has restructured $35m of debt for an existing borrower to support a staged development strategy for sites located in Baulkham Hills and Rouse Hill.

Both assets are located within the Northwest growth area along the new Sydney Metro Line, which will deliver trains to the CBD every 4 minutes from late August 2024. Collectively the sites have capacity to deliver over 570 residences into the region, which will benefit from the upgraded transit connections.

CBC is excited to continue their relationship with this borrower and strengthen the portfolio in Sydney’s Northwest Growth Area.

August 2024

CENTURIA BASS REFINANCES $60M DEVELOPMENT PORTFOLIO IN SYDNEYS NORTHWEST

Centuria Bass Credit has financed a 70% LVR residual stock facility in The Ponds, NSW. CBC responded to an existing borrower client’s tight deadline, delivering a $40m settlement in less than two weeks from term sheet issuance.   The infill residential subdivision is in close proximity to schools, green spaces and retail amenities, benefiting from strong investor and owner-occupier demand.   CBC is excited to strengthen its relationship with this borrower and expand the portfolio in Sydney’s Northwest growth corridor.

July 2024

CENTURIA BASS SETTLES $40M RESIDUAL STOCK LOAN IN 2 WEEKS

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

SYDNEY (Thursday, 25 July 2024) – 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 billion.

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.

July 2024

UBS COMMITS FINANCING TO CENTURIA BASS WAREHOUSE FACILITY

Centuria Bass Credit refinanced a $13.5m industrial asset from a major bank to provide additional working capital to an existing borrower client. The owner-occupied warehouse facility and office space is set over 12,000 square meters of land, located only 20km southeast of Melbourne’s CBD in Cheltenham.

The asset has strong development potential and is well-connected to infrastructure nodes including highways, ports, and airports. The subject’s office space makes the property extremely desirable for businesses active in both the manufacturing and logistics sectors.

CBC is proud to continue developing relationships with existing clients and expand its industrial asset class.

July 2024

CENTURIA BASS REFINANCES INDUSTRIAL ASSET FROM MAJOR BANK TO 62.5% LVR

Centuria Bass are delighted to announce that our flagship fund, The Bass Property Credit Fund (BPCF), is now available on the HUB24 platform, along with Praemium, Netwealth, Macquarie, Powerwrap and Mason Stevens.

July 2024

BASS PROPERTY CREDIT FUND NOW ON HUB24

Centuria Bass Credit is financing a $60m residential mixed-use development set over 12 stories in the heart of Moorabbin, 14kms southeast of the Melbourne CBD. The 74-apartment and 4 retail development will appeal to residents seeking the convenience of rail and retail amenity.

Tailored to meet the needs of an existing borrower client, this 26-month facility has been structured on a no-presales basis to 66% LVR.

CBC are excited to continue their relationship with this client and strengthen its metropolitan Melbourne portfolio.

June 2024

CENTURIA BASS STRENGTHENS METROPOLITAN MELBOURNE PORTFOLIO

Centuria Bass Credit are excited to announce the funding of a $39m land acquisition facility in Edmondson Park, NSW.

Edmondson Park is an emerging suburb in the NSW government’s South West Priority Growth Area, in close proximity to the new Western Sydney Aerotropolis. The site is conveniently located near the Edmondson Park train station and Ed Square, a new urban town centre development featuring restaurants, shops and community buildings.

The subject property is earmarked for residential development with a gross realisation value in excess of $80m. When completed, the project will provide much-needed housing for more than 2000 residents. This opportunity aligns with Centuria Bass’ strategy to target priority growth areas in Greater Sydney therefore we are excited to deliver this large-scale project alongside our client.

June 2024

CENTURIA BASS FUNDS PRIORITY GROWTH AREA IN NSW

In just half a year, Centuria Bass has funded projects exceeding $170 million across the Australian Capital Territory (ACT). Our investments spanned three key sectors, leveraging three distinct loan types, and spanning five strategic locations.

The ACT's remarkable growth trajectory has positioned it as a prime investment destination, fuelling robust demand for both residential and commercial real estate.

At Centuria Bass, we're not just lenders; we're partners in your success story. Committed to crafting tailor-made lending solutions, we're here to support the diverse needs of our clients across Australia.

April 2024

CENTURIA BASS INVESTS IN AUSTRALIA’S CAPITAL

Centuria Bass Credit is providing a 65% LVR, senior secured land bridge loan in Officer, a rapidly growing suburb 50km southeast of the Melbourne CBD. The site is in close proximity to retail, education, transport and recreation amenities, and has a total value of $35.9M. Officer is situated in Melbourne’s south-east growth corridor, with the population expected to increase by over 58% by 2041, making this a well-located development site in an urban growth area. Centuria Bass Credit is thrilled to be working with the Sponsor to refinance this well-located parcel of land in Victoria.

April 2024

CENTURIA BASS CREDIT REFINANCES $35.9M SITE IN OFFICER, VIC

April 2024

CENTURIA INCREASES STAKE IN STRONGLY PERFORMING REAL ESTATE FINANCE BUSINESS, CENTURIA BASS

Centuria Bass has funded a national developer’s expansion into the western growth corridor of Melbourne, extending a 67.5% LVR facility to construct 200 lots in Deanside.   The Melton LGA has experienced significant growth, popular with house and land purchasers looking to grow their families at a value they can afford to access.   Surrounded by established schools and amenities, the subdivision is set to deliver much needed supply into a market increasingly looking for housing options supported by social infrastructure.

March 2024

CENTURIA BASS FUNDS $70M MELBOURNE SUBDIVISION

Centuria Bass Credit has refinanced two parcels of land zoned for development with a NZD $35.95M GRV, 50km north of Wellington’s CBD. The parcels are located on the Kapiti Coast, one of the fastest-growing regions in the north of Wellington, with the population expected to grow by 55% within the next 30 years.

The properties have strong residential potential, holding consent to develop 545 residential lots. Both properties are located within proximity to retail amenities, beaches, schools and public transport with direct access to Wellington CBD. The location also benefits from recent infrastructure upgrades such as Transmission Gully and the Kapiti Expressway.

Disclaimer: The images shown are for illustration purposes only and may not be an exact representation of the place or product.

March 2024

CENTURIA BASS CREDIT REFINANCES LAND ZONED FOR DEVELOPMENT ON NEW ZEALAND’S KAPITI COAST

ASX Listed Centuria Capital Group recently released their half-yearly results, which spotlight Centuria Bass Credit's strong growth in the real estate finance sector, with a 41% increase to our Assets Under Management (AUM) year on year, reaching $1.58bn.

February 2024

CENTURIA BASS GROWS AUM BY 41% TO $1.58BN

• 35-year experienced John Kalaf appointed Senior Advisor – Distribution, Sydney office
• 15-year experienced Peter Callanan appointed Director – Investor Operations, Melbourne office
• Recent senior hires support significant growth, 41% annual increase in FUM to c. $1.6 billion1
• Private real estate finance tailwinds anticipated to continue

SYDNEY (Monday, 26 February 2024) – Real estate non-bank lender and investment manager, Centuria
Bass Credit, continues its workforce expansion to support its burgeoning growth, announcing two additional
senior appointments within its Sydney and Melbourne office.

John Kalaf joins Centuria Bass’ Sydney office as Senior Advisor - Distribution. With over 35 years’
experience in global financial markets, Mr Kalaf will be responsible for supporting capital raising strategies
across the NSW market.

Peter Callanan joins Centuria Bass’s Melbourne office as Director – Investor Operations. He brings 15 years
of experience in funds management and investor relations across Ireland and Australia and is chiefly
responsible for strategic operations across Australia.

Both Mr Kalaf and Mr Callanan will report to Yehuda Gottlieb, Managing Director of Funds & Distribution.
Giles Borten and Nick Goh, Centuria Bass Joint CEOs, said, “In the current high interest rate environment
with many traditional lenders tightening their loan criteria, coupled with unprecedented demand for
residential stock, Centuria Bass is experiencing surging demand for non-bank real estate finance.
“This demand has been met with strong wholesale investor appetite for high returns across a relatively short
time period of approximately 12-18 month. These are the fundamentals that have underpinned Centuria
Bass’ 41% annual increase in its funds under management to c. $1.6billion. We believe these conditions will
be sustained, which make it necessary for Centuria Bass to expand its workforce to support our continual
growth.”

Mr Kalaf and Mr Callanan are among half a dozen recent appointments across Sydney and Melbourne.
Mr Gottlieb continued, “We’re pleased to welcome John and Peter to the Centuria Bass team. John’s
expertise in global wholesale markets and financial markets analysis make him a valuable addition to our
distribution team while Peter’s operational expertise will generate significant value and efficiencies across
the business.”

Previously, Mr Kalaf held positions with GFI Group as a Director, AU/NZ (AU); Icap Sydney as Director,
Interest Rate Derivates (AU); and Lasser Marshall as a Senior Broker Advisory (US). He has also completed
an Executive Leadership Development Course at the Stanford Business School.

Mr Callanan’s previous positions include MaxCap Group where he worked as a Senior Manager (AU); NAB
as a Senior Associate (Non Traded Operations) (AU); and SEI Investments as an Investment Operations
Specialist (IE). He holds a Bachelor of Science, Business Information Systems from the University College of
Cork, and has also obtained his professional accounting qualification from the Association of Chartered
Certified Accountants (ACCA).

Centuria Bass was founded in 2016 and has since grown to c. $1.6 billion in funds under management
(FUM)1 extending over 127 investments. Since its inception, it has delivered compelling returns on secured
private credit loans averaging over 12.84% p.a. return.

February 2024

CENTURIA BASS APPOINTS OPERATIONS AND DISTRIBUTION EXPERTS

"Real estate non-bank lender and investment manager, Centuria Bass Credit, has appointed Alex Hayde as Senior Relationship Manager, Investor Relations. With more than 14 years experience in funds management and investor relations across the United Kingdom, New Zealand and Australia, Mr Hayde joins Centuria Bass’ distribution team in its Melbourne office.

Reporting to Managing Director, Funds & Distribution, Yehuda Gottlieb, Mr Hayde will support Centuria Bass’
distribution and investor relations strategy across the business. Giles Borten and Nick Goh, Centuria Bass Joint CEOs, said, “We are excited to welcome Alex to the Centuria Bass fold. He brings valuable experience across funds management and investor relations, including cultivating relationships with Wholesale and High Net Wealth clients.”
Mr Gottlieb added, “Alex’s extensive international experience in financial markets and his global networks will assist Centuria Bass in driving growth and providing greater service to our valued investors.”

Mr Hayde’s previous positions include Payton Capital – Senior Relationship Manager (AU); Allianz Global
Investors – Investment Trust Business Manager (UK); Edison Group – Account Director, Investor Relations
(UK) and ASB Securities (NZ). He holds a Bachelor of Commerce (B.Com) degree in Banking, Corporate Finance and Securities Law from the Massey University and is a Trustee of community sports not-for-profit, Level Playing Field.
Mr Hayde is Centuria Bass’ third senior appointment within the past two months, reflecting the company’s strong growth trajectory and strategic market expansion.

Centuria Bass was founded in 2016 and has since grown to over $1.5 billion in funds under management (FUM)* extending over 120 investments. Since its inception, it has delivered compelling returns on secured private credit loans averaging over 11.8% p.a. return, with no losses of principal or interest to investors on any of its 120+ investments*.”

February 2024

CENTURIA BASS APPOINTS ALEX HAYDE

Centuria Bass Credit is providing a 70% LVR facility for the construction of two distinctive buildings accommodating 74 apartments and ground-floor retail in Melbourne’s northern suburb of Thomastown. The development will build on emerging High Street village retail amenities within the immediate vicinity and provide direct transit options to Melbourne’s CBD from Thomastown Station, which is a 200m walk for residents. The project will deliver much needed apartment supply priced for first-home buyers to qualify for stamp duty exemptions, and into a market that has experienced rising rents and low rental vacancy. Centuria Bass is excited to add the Nexus Apartments project to its construction finance portfolio.

January 2024

CENTURIA BASS FINANCES $45M TRANSIT-ORIENTED DEVELOPMENT IN MELBOURNES NORTH

Centuria Bass Credit provided a senior secured loan to refinance $68m of commercial and residential properties located in both central and growing suburbs of Canberra. The high LVR enabled the borrower to refinance their current construction facility into a capitalised interest loan, that will utilise sales proceeds to service the facility over the loan term.

The subject properties include a recently completed townhouse community and childcare centre portfolio, located within close proximity to local schools, amenities, and connected by Canberra’s light rail. Canberra continues to experience growth in the government, education, and technology sectors, resulting in increased demand for both residential and commercial spaces, making the area an attractive investment location.

Centuria Bass Credit is excited to support growth in the Capital Territory.

December 2023

CENTURIA BASS REFINANCES $68M WORTH OF RESIDUAL STOCK IN CANBERRA AT A 75% LVR

Centuria Bass Credit has refinanced a 3.5-hectare development site 7km from the Geelong CBD. The site located in the suburb of Highton, is in close proximity to Waurn Ponds Shopping Centre, Deakin University and Epworth Geelong Hospital. Geelong’s population is expected to grow 40% over the next 2 decades, particularly among a younger demographic, with the last census recording the largest gain within the 18-35-year-old demographic.

The facility which included a working capital release, will enable the borrower to fund planning approvals for a new community set to accommodate over 250 new residences once approved.

November 2023

CENTURIA BASS REFINANCES SITE FOR NEW URBAN COMMUNITY IN GEELONG, VIC

Centuria Bass Credit provided a senior secured loan to refinance a highly sought after development site in Brisbane’s Kangaroo Point. The site remains one of Brisbane’s most unique inner city land holdings and has received development approval for a 15-storey apartment building and Riverfront homes.

Just 3km from the CBD, the future development is in close proximity to various retail amenities, public transport and entertainment hubs. Centuria Bass Credit is thrilled to diversify its portfolio of land holdings with this 62.5% LVR bridging facility.

November 2023

CENTURIA BASS FUNDS $50M RIVERFRONT DEVELOPMENT SITE IN BRISBANES CBD

Centuria Bass Credit has provided funding for the acquisition of a $15m land parcel located within a developing residential precinct in Mount Barker, South Australia. On completion, the proposed development will consist of 401 residential lots with approximately 6ha retained as open space.

Mount Barker is a well-established suburb approximately 35km southeast of the Adelaide CBD, and is recognized as one of the fastest-developing regional centres in Australia. The region is experiencing significant growth and is expected to become South Australia’s 2nd biggest city, with the local population expected to more than double by 2035.

July 2023

CENTURIA BASS FUNDS 28HA OF LAND IN SOUTH AUSTRALIA'S FASTEST-GROWING REGION

Centuria Bass Credit acted quickly to support the purchase of a development site in Port Macquarie, by unlocking $19m of collateral, and refinancing a diversified portfolio of properties from a major bank to facilitate the acquisition. The restructured portfolio includes 164 HA of land comprising development sites and residential dwellings across multiple locations in NSW, providing a fully packaged solution for the borrower to complete their purchase.

August 2023

CENTURIA BASS FINANCE RESTRUCTURE KEY TO PORT MACQUARIE ACQUISITION

Centuria Bass has financed a 65% LVR construction facility in central Lane Cove, located only 9km from the Sydney
CBD. The facility enables the construction of a six-storey, 26-unit boarding house, catering to the strong demand for
affordable housing in Sydney’s metropolitan area. Boarding houses represent the simplest form of build-to-rent and are
assisting in driving the rapid expansion of the co-living asset class. Upon completion, the project’s prime location will
provide residents with ease of access to public transport, retail amenities, and an excess of local parks and recreational
areas.
Centuria Bass is excited to grow its metropolitan Sydney portfolio and strengthen its position in the build-to-rent asset
class.

April 2023

CENTURIA BASS EXPANDS CO-LIVING ASSET CLASS PORTFOLIO WITH SYDNEY BOARDING HOUSE

“Investor returns in our flagship property credit fund rise to over 10%pa on a current 60% loan-to-value ratio (reducing
from 63% over the year with 92% first mortgage).

Our history of no losses of principal or interest on any investment remains.
We have conviction that growth and success for our investors comes from prudent investing. Prudent investment in 2021
and 2022 underpins the difference in results today to be precise. It is discipline with the loans you dont make when money is cheap that then enable funds to take advantage of the liquidity gap and rising interest rates that has emerged.
The direct property expertise of our partner Centuria reinforces our ability to truly understand property risk in the credit
investments we make.”
A message from our co founder, Nick Goh

August 2023

CENTURIA BASS AUM HITS $1.3 BILLION ON RECORD INVESTOR RETURNS AND GROWTH

Centuria Bass is financing the construction of three buildings set to accommodate 92 apartments in Sydney’s
southwestern growth centre of Edmondson Park, which is expected to see significant development over the next 10
years. Having been through protracted discussions elsewhere, the borrower turned to Centuria Bass to get certainty that
they could capitalise on a fundamentally strong opportunity.
The project will deliver much needed residential accommodation into a Sydney market struggling to meet the competing
demands of affordability, retail amenity and transport proximity. Edmondson Park as a location, and the project itself, will
benefit from meeting these challenges.

September 2023

CENTURIA BASS DELIVERS CONFIDENCE TO BORROWER AND FUNDS $60M EDMONDSON PARK
DEVELOPMENT

Centuria Bass Credit is financing a luxury development in the prestige Sydney eastern suburb of Bellevue Hill, located only 4km from the CBD and within close proximity to public transport, amenities, and major transport nodes. Featuring four house-sized apartments with individual garages and pools, the development will connect with wealthy buyers looking
for all the benefits of contemporary apartment living, whilst retaining the spacious living areas found in large family
homes.
CBC is excited to expand its luxury asset portfolio and support the development of Sydney’s harbourside suburb by providing this 67% LVR construction facility.

October 2023

CENTURIA BASS FUNDS $70M+ LUXURY APARTMENT DEVELOPMENT IN BELLEVUE HILL, NSW

The Centuria Bass Credit Fund (CBCF) is an unlisted, open-ended property debt fund offered exclusively to wholesale investors by Centuria Capital Group and Centuria Bass Credit.
With 100% of loans secured by first-ranking mortgages, and a portfolio diversified across loan type, sector and geography, CBCF targets capital preservation, downside protection and attractive returns.
Disclaimer | The fund’s internal rate of return of 10% is a forecast based on the portfolio currently (October 2023) held by
the fund. Differences between the forecast return and distributions paid will depend on fees and cost and the amount of cash held by the fund in any particular month. CBCF aims to pay 100% of modelled return as a monthly distribution,
subject to the assumptions and risks as noted in the Information Memorandum. Past performance is not a guarantee of
future performance. Returns and distributions are all referred to on a pre-tax basis and are taxable in the hands of the investor. Investors should seek their own professional advice as to the financial, taxation and other implications of
investing in the Fund. Investors should refer to the current Information Memorandum before making a decision to invest.

September 2023

ATTRACTIVE RETURNS FOR CENTURIA BASS CREDIT FUND

At Centuria Bass, we’re proud of our impressive track record, and the great results our talented team have achieved for
our clients and co-investors.
We’ve grown our Funds Under Management (FUM) by 66% in the past year. We’ve also diversified geographically, now
funding internationally, in New Zealand. With a 36% increase in overall facilities funded, we’ve further diversified our
portfolio particularly across the Industrial, Subdivision and Mixed-Use sectors.

September 2023

CENTURIA BASS CONTINUES IMPRESSIVE TRACK RECORD

Centuria Bass Credit has funded the acquisition of a site with approval for a $46m light industrial subdivision, set to capitalise on the undersupplied ACT industrial market. Centuria Bass was able to reach settlement within 2 weeks of agreeing terms with its client, ensuring this strategic asset was secured. The 14-lot project will appeal to businesses in the market for assembly, production and storage space – and will provide necessary supply of new premises within the region.

June 2023

CENTURIA BASS MOVES FAST TO FUND CANBERRA INDUSTRIAL PURCHASE

Centuria Bass Credit has financed the acquisition of a development site in the pre-zoned location of Orchard Hills, a priority urban release area in the Western Sydney region. Building on an established and trusted relationship with the broker and borrower, Centuria Bass responded quickly to this strategic opportunity for the borrower to secure a 5-acre parcel of land only 400 meters from the future Orchard Hills metro station. The station is one of six new stations currently under construction on the Western Sydney Airport Metro Line due to open in 2026, and will be the heart of a future residential, commercial, and mixed-use precinct.

The deal exemplifies Centuria Bass’ ability to support a borrower’s vision, act with speed and provide the flexibility to back pre-zoned land in key growth corridors.

May 2023

CENTURIA BASS FUNDS STRATEGIC MOVE IN SYDNEY’S PRIORITY GROWTH CORRIDOR

Centuria Bass Credit has provided a land bridge facility for the amalgamation of a $36m development site in Chatswood, NSW. The project will deliver a future residential development in a well-established suburb of North-West Sydney, located 12kms from the Sydney CBD. The developer has combined an entire street frontage over multiple lots for a planned two-tower development consisting of 123 residential units. The project will provide easy access to Chatswood Train Station and a vast array of amenities and recreational facilities, located within one of Sydney’s major business and population hubs. The key to the developer unlocking this development opportunity was the certainty that Centuria Bass is able to offer through the provision of this land bridge facility.

April 2023

CENTURIA BASS BACKS DEVELOPER WITH 73% LVR TO AMALGAMATE A SYDNEY STREET

Centuria Bass Credit has provided a senior secured loan to refinance 28 residential land lots for the project known as ‘One Fairway’. The site can be found in Kellyville in the North-West of Sydney, on an elevated parcel offering stunning views of the Blue Mountains to the west. The stand-alone homes are located approximately 36km away from the CBD, with easily accessible public transport and an array of recreational amenities.

December 2022

CENTURIA BASS BEATS THE XMAS RUSH

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