The David Di Pilla-backed HomeCo Daily Needs REIT (HDN) has lifted its valuations by 6.5 per cent, equal to $84.7 million and on a net of capital expenses basis, the gain was 4.7 per went, versus December 2020 data.
The trust has had a 64 per cent growth in gross asset value of its portfolio since its float out of the Home Consortium business in November 2020.
HomeCo boss David Di Pilla. Credit:
This is the first valuation for all 27 properties in the portfolio, including the 8 acquisitions announced in April, since the IPO.
HDN is now valued on the ASX at $941 million. Its shares were up 0.7 per cent at $1.375 by 10.50am AEST.
HDN fund portfolio manager Paul Doherty said the draft valuation result provides strong validation for HDN’s high quality and well-located portfolio which is benefiting from robust investment and tenant demand.
“Incorporating the preliminary unaudited…
