In a market increasingly defined by fragmentation and fierce competition, Centuria Bass is carving out a clear identity as a premier private lender in Australia’s residential real estate sector.

Established in 2016, the relatively young company has rapidly become a key financier for mid-market residential development, offering loan sizes ranging from $5 million up to $150 million, with the ability to scale either side of those numbers when that opportunity calls.

Centuria Bass (CBC) has built its reputation in the middle market, a segment often underserved by institutional lenders but rich with opportunity. With a strong foundation in residential construction and subdivision financing, the firm has strategically expanded its footprint, now also pursuing industrial and commercial projects by leveraging the deep expertise of its large, listed parent entity.

Growth intentions were signalled to the market early this year when they appointed David Giffin, the former Wallaby who jumped into private lending two decades ago when he hung up the green and gold jersey. He’s raised over $6 billion of capital during his career in finance.

Giffin took the mantle as Deputy CEO and Co-Head of Lending, tasked with accelerating the firm’s lending origination across both Australia and New Zealand.

“It’s a good time to be a borrower,” Giffin says. “There’s strong appetite from private credit, and we’re committed to deploying capital into quality projects where we’re confident in the group and their capabilities.”

Centuria Bass (CBC) has built its reputation in the middle market, a segment often underserved by institutional lenders but rich with opportunity.

Giffin says the growth in the company in the last few years has given them the ability to pursue bigger opportunities and lend more aggressively when they see strong counterparties.

Recent activity includes a number of construction loans reflecting a broader industry shift: while residual stock loans dominated the past 18 months, the pendulum is swinging back toward construction lending, as developers push forward with new projects amid favourable housing and apartment pricing dynamics.

Centuria Bass has become known for its nimbleness and willingness to compete on pricing for the right project. It benefits from strong broker networks and a robust origination engine that taps both new and repeat borrowers.

“We’re pushing hard across all our origination channels,” said Giffin. “The more comfortable we are with a developer and their track record, the more flexibility we can offer in terms of structuring and capacity.”

There’s strong appetite from private credit, and we’re committed to deploying capital into quality projects where we’re confident in the group and their capabilities.

In FY’24 – ’25, the firm originated and refinanced 65 loan facilities worth more than $1.25 Bn+.

While many financiers have found it difficult to exit exposures at end of term, Centuria Bass’s strategy includes a willingness to hold positions if the risk-reward ratio aligns. That long-term mindset, combined with its strong capital base and deep relationships across the development community, positions the firm for continued momentum in 2025 and beyond.

“We’re not constrained by loan size when we like the transaction fundamentals — we can back the right deal,” Giffin says.