HomeCo raises $140m for Woolworths & Aurrum acquisition

Home Consortium raises $140m for Woolworths & Aurrum acquisition

Home Consortium (HMC) is pleased to announce the successful completion of a $140 million fully underwritten placement of 48,611,111 million new stapled securities to institutional investors at a price of $2.88 per Placement Security.

HMC received high levels of interest from both existing securityholders and new investors with demand to participate in the Placement well in excess of the funds that HomeCo sought to raise.

The funds raised will be used to acquire three properties from Woolworths Group as well as Aurrum Erina from Aurrum Aged Care, an entity associated with David Di Pilla, Executive Chairman and CEO.

HomeCo Executive Chairman & CEO, David Di Pilla, said: “We are very pleased with the outcome of the Placement and the strong support from existing and new securityholders. The acquisitions are an exciting step for HomeCo and increase daily needs and HealthCo services tenant exposure to 47%, consistent with HomeCo’s strategy of increasing its weighting towards hyper-convenience based retail and healthcare & wellness assets. They also strengthen HomeCo’s relationship with Woolworths as a partner and key tenant.”

The acquisitions are expected to complete in July 2020.

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