23 December 2020 – Leading international law firm, Hogan Lovells, led by finance partner Bryan Paisley, has advised HomeCo Daily Needs REIT (ASX:HDN) on the syndicated debt financing associated with its listing on the Australian Stock Exchange in November 2020 including the recent upsizing of those facilities to A$500,000,000 and the financing of the A$56,000,000 acquisition of the Bunnings Seven Hills property.
HomeCo Daily Needs REIT is an Australian real estate investment trust listed on the ASX with a mandate to invest in predominately metro-located, convenience based assets across target sub-sectors of Neighbourhood Retail, Large Format Retail and Health & Services. It was established by ASX listed Home Consortium (ASX:HMC) in November 2020 and Hogan Lovells also advised Home Consortium on its separate syndicated finance facilities with respect to the establishment of the HomeCo Daily Needs REIT.
The acquisition of the Seven Hills site continues HomeCo’s expansion into high growth metropolitan geographies like the Western Sydney growth corridor.
The Hogan Lovells Australian team comprised finance partner Bryan Paisley, senior associate Lisa Mazor and associate Zac Forrai.
Commenting on the deal, Bryan Paisley noted: “We were delighted to assist HomeCo Daily Needs REIT on its initial syndicated financing and the upsizing of its facilities indicate the strong support in the credit market for high quality real estate opportunities of this nature. Assisting on the next stage of expansion of the REIT’s portfolio provided a terrific next step in our relationship with HomeCo”.
Jock O’Shea and a team from Ashurst acted on behalf of the finance parties including mandated lead arrangers and underwriters, lenders, the facility agent and security trustee.
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