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HomeCo. | |
Company type | Public company |
ASX: HDN | |
ISIN | AU0000113136 |
Industry | Commercial realestate |
Founded | 2017 |
Headquarters | Level 7, Gateway, 1 Macquarie Place, Sydney , Australia |
Number of locations | 52 (2022) |
Area served | |
Key people | Sid Sharma (CEO) |
Revenue |
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Owner | HMC Capital |
Website |
www |
HomeCo Daily Needs REIT, also known as HomeCo, is an Australian real estate investment trust (REIT) specialising in ownership and management of Australian shopping centres. The publicly traded company ( ASX: HDN) owns 52 shopping centres in 5 Australian states. As of 2022, their centres are valued at $4.6 billion. [1]
In 2016, HomeCo's parent company, HMC Capital, acquired the Masters Home Improvement's holding company, Hydrox Holdings Pty Limited, for their property portfolio after its closure in 2016. [2] [3] [4] The $725m acquisition provided HMC Capital with more than 700,000sqm of large scale retail space. [3] [5]
A subsidiary of HMC Capital, HomeCo Daily Needs REIT, was founded by HMC Capital in 2017. [6]
In October 2021, HomeCo's parent company, HMC Capital announced a $2.2 billion merger deal with Aventus Group. [7] [8] The merger was completed in February 2022 and the Aventus Group was delisted from the ASX. [9] [10]
HomeCo Daily Needs REIT was listed on the ASX during November 2020 with a $300m initial public offering and was listed with $844m worth of assets. [2] Since December 2020, its funds under management have grown by 431%. [11]
The REIT is listed on the ASX 200. [12]
HomeCo has 52 centres across 5 Australian states. There are 19 centres in New South Wales, 12 in Queensland, 2 in South Australia, 15 in Victoria, and 4 in Western Australia. [13] The majority of HomeCo centres are former Masters Home Improvement stores which were acquired in 2016, with the other portion of centres being acquisitions of preexisting centres. [3] [14]