| HomeCo Daily Needs REIT | |
| Trading Name: | HomeCo. |
| Type: | Public company |
| Isin: | AU0000113136 |
| Industry: | Commercial realestate |
| Founded: | 2017 |
| Hq Location: | Level 7, Gateway, 1 Macquarie Place |
| Hq Location City: | Sydney |
| Hq Location Country: | Australia |
| Num Locations: | 52 (2022) |
| Key People: | Sid Sharma (CEO) |
| Owner: | HMC Capital |
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.[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. 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.[14]