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  • Centuria (CNI) has secured a 50 per cent interest in real estate debt fund provider Bass Capital Partners with a $24 million cash consideration
  • The company has the option to fully acquire the remaining 50 per cent interest in five years
  • The joint venture will roughly have a $270 million committed loan book with more than $300 million of pipeline opportunities and $107 million open-ended debt funding
  • “Our investment in this platform is an opportunity to capitalise on strong demand from our high-net-worth investors for debt products, as they seek a diversified investment risk profile,” Centuria joint CEO Jason Huljich said
  • Shares in CNI are down 1.44 per cent to $2.74 each as of 3:45 pm AEST

Centuria (CNI) has secured a 50 per cent interest in real estate debt fund provider Bass Capital Partners with a $24 million cash consideration.

The company has the option to fully acquire the remaining 50 per cent interest in five years.

The joint venture will continue to be led by Bass Capital’s founding partners – former UBS European Head of Leveraged Finance and Debt Capital Markets Giles Borten and former Managing Director of Wingate and Gresham Partners Nicholas Goh.

The joint venture will roughly have a $270 million committed loan book with more than $300 million of pipeline opportunities and $107 million open-ended debt funding.

“Our investment in this platform is an opportunity to capitalise on strong demand from our high-net-worth investors for debt products, as they seek a diversified investment risk profile,” Centuria joint CEO Jason Huljich said.

“This investment brings a new business line to Centuria, which helps expand our unlisted platform, diversify our recurring revenues and provides further investment opportunities to our investor clients.”

Bass Capital Founding Partners Giles Borten and Nicholas Goh said they will leverage Centuria’s Australasian scale, balance sheet and the team’s real estate relationships and expertise across traditional and alternative real estate sectors to grow their platform.

“To date, based upon the strength of our track record and how we have grown our investor base by word-of-mouth, we are excited to proactively deliver our debt offerings to a new group of loyal high net worth investors
with the backing of Centuria,” they said.

Centuria Capital Group has recently entered a deal to merge with Primewest (PWG) to create a $15.5 billion property fund management platform. The merged group would have a market capitalisation of roughly $2.2 billion.

Shares in CNI are down 1.44 per cent to $2.74 each as of 3:45 pm AEST.

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