HMC Capital completes over $320m of transactions

HMC Capital (ASX.HMC) and its managed funds are pleased with the completion of over $320m transactions this week.
 
HealthCo HealthCare & Wellness REIT (ASX.HCW) today announced the acquisition of a strategic life sciences property in Macquarie Park, NSW. The property has over 90% of income weighted towards health, life sciences and government tenants including anchors Saluda Medical (Med-Tech company) and Aegros (Australian biopharma manufacturer).
 
HMC is also pleased to announce settlement of Menai Marketplace, NSW for $150m which is the first seed asset for the proposed Last Mile Logistics unlisted fund (LML). The asset’s strategic location, short WALE and low site coverage of 32% are well suited to the fund’s strategy to generate core plus returns from repositioning well-located and strategic real estate into daily needs retailer focused infrastructure.
 
HomeCo Daily Needs REIT (ASX.HDN) settled the previously announced acquisition of Southlands Boulevarde, WA for $92.5m on an 8% yield. The triple supermarket neighbourhood centre is immediately accretive and accelerates HDN strategy to rebalance back to the model portfolio.

HMC Capital CEO and Managing Director David Di Pilla, said: “We are pleased to have secured over $320m of high-quality properties which further increase our exposure to our high conviction megatrends across healthcare, life sciences and last mile logistics. Whilst we remain disciplined in our capital deployment, we continue to maintain great momentum towards achieving our target to grow AUM to over $10bn by 2024."