HDN Delivering on Strategy
HomeCo Daily Needs REIT announces the acquisition of 7 LFR & 1 neighbourhood centre for $322m. The acquisition will be funded by an underwritten accelerated non-renounceable Entitlement Offer.
HDN Chairman Simon Shakesheff said: “Today’s announcement builds on HDN’s strong growth trajectory since IPO. HDN is executing on its stated strategy to provide Unitholders with consistent and growing distributions by investing in a diversified portfolio of high quality, stabilised convenience focused assets. The proposed acquisitions and equity raising substantially improve the quality and scale of HDN’s portfolio and are expected to deliver FFO accretion and reduced gearing. The proposed transaction demonstrates the strong alignment of interests with Home Consortium, HDN’s largest Unitholder and manager.”