La Trobe Financial sells Bathla loan to 360 Capital for $31.2M
La Trobe Financial sold its loan on a Bathla project to 360 Capital.
La Trobe Financial sold its $31.2 million senior loan tied to a Bathla Group development in Marsden Park, Sydney. The loan went to property fund 360 Capital.
The sale comes as lenders scramble to recover money after the developer's collapse. The Marsden Park project consists of 72 apartments nearing completion.
36 units are already pre-sold for $25.8 million. 360 Capital bought both the first and second mortgages on the property.
Now they control how the remaining work gets finished. They also control how the debts are recovered.
An independent analyst said controlling the top-ranked loan puts 360 Capital in a much stronger position. The company can sell the finished apartments at a higher price than a half-built site.
Bathla's failure has hurt Australia's private credit sector. Several major lenders have suspended withdrawals from funds due to exposure to Bathla.
- 31.2 million dollars
- Senior loan amount purchased
- 72 apartments
- Marsden Park apartment units
- 36 units for 25.8 million dollars
- Pre-sold apartments value
- 38.1 million dollars in loans
- La Trobe's total Bathla exposure
Why it mattersThe sale shows lenders are taking strong steps to protect investments in Australia's property sector. But there is still uncertainty about whether all apartments can be sold.
AustraliaAustralian investors in private credit funds face potential losses as lenders race to recover from Bathla; the broader property market slowdown makes completion of projects harder.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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