HomeCo raises $125M for six health and wellness acquisitions – aged care on the cards?

Published on

The property manager – headed by Managing Director and Aurrum Aged Care Chairman David di Pilla – is moving forward on its plans for a Health Wellness & Government REIT, launching a capital raising last Friday to fund the purchase of six health, education and government services properties – which could include aged care.

As we covered here, Home Consortium flagged that it wanted to set up its ‘Healthco’ initiative back in July, with plans for it to make up 21% of its larger property investment portfolio, with targets of childcare, aged care, medical centres, radiology, gyms and government services.

HomeCo issued $32.9 million new securities at an issue price of $3.80 per share – a 2.6% discount on its $3.90 choosing share price last Thursday – which were quickly snapped up.

The Fin Review is reporting that the REIT is expected to be spun off in the first half of 2021.

Once complete, the acquisitions would increase HomeCo’s assets under management to over $1.7 billion.

The question is now: will any aged care assets be amongst the purchases?

Share.

About Author

Lauren is the Editor at DCM Group and has guided its range of media including The Weekly SOURCE, The Daily RESOURCE and The Donaldson Sisters since 2016. With 13 years’ experience as a journalist, editor and commentator, Lauren is the only journalist to have attended every session of the Royal Commission into Aged Care Quality and Safety, producing 300 issues of the subscriber-only The Daily COMMISSION which offers exclusive insights and analysis of the issues surrounding the Royal Commission and the aged care sector.