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Centuria Capital Group Expects No Material Impact From Bathla Group's Voluntary Administration

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Centuria Capital Group (ASX:CNI) said property developer Bathla Group's decision to enter into voluntary administration will not have a material impact on Centuria, according to a Tuesday filing with the Australian bourse.

The company said it is not a unitholder of any Bathla-related credit funds.

The Centuria Bass Credit funds platform has funded six separate assets for the Bathla Group. Two of the Bathla loan facilities relate to construction, with both projects close to completion, while the remaining facilities relate to residual stock loans and land loans.

Centuria Capital provided a AU$4.5 million loan facility to a special purpose loan vehicle relating to one of the near-complete construction projects, it said.

Centuria Bass is already paying subcontractors directly in relation to the two construction projects, and plans to progress the projects to title issuance to allow for presales.

Centuria Capital Group shares gained nearly 2% in recent Wednesday trade.

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