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Originally set up as a developer and owner of large-format malls, Home Consortium will soon hit $5.2 billion of assets under management across its two listed trusts.
The earnings upgrade came as HomeCo Daily Needs REIT prepares to finalise its $3.2b merger with Brett Blundy’s Aventus Group.
More than half of the income growth from the landlord’s $3.7 billion portfolio is directly or indirectly linked to inflation through annual rent increases.
Greg Goodman says rents are rising 15 to 20 per cent in places such as Los Angeles and Sydney due to a lack of supply to meet rising demand driven by ecommerce.
The vast majority of ARENA REIT’s childcare centres are leased to tenants who are now paying CPI-indexed rent rather than lower fixed rents.