Home Consortiums (ASX:HMC)
proposed HealthCo and Wellness REIT enters an agreement to raise $650 million following a lodged statement with Australian securities.
Following a high level of investor interest, the raising was upsized by $50 million. The property and investment group owns retail assets in five states across Australia, primarily under the Home Co brand.
The REIT's initial portfolio included 22 investment properties and five development projects spread across government, private hospitals, aged care, childcare, and wellness sub sectors. The funding will have a $300 million capacity for acquisitions and developments post listing.
Home Consortium managing director and CEO, David Di Pilla said: "The proposed ASX listing of HealthCo Healthcare and Wellness REIT in early Sepmarks another significant milestone for our organisation. HomeCo is now well positioned to accelerate its growth and scale its capital light funds management model.”
Shares in Home Consortium (ASX:HMC)
are trading 0.2 per cent lower at $5.98.