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Former UBS banker buys $9m house next door for Sydney compound
David Di Pilla, who is chairman of ASX-listed property investment group Home Consortium, has purchased his neighbourâs property in Bellevue Hill.
The Bellevue Hill residence of Arabella and Damien Rayner sold for $9 million.Â
Lucy Macken
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There is no shortage of family compounds in Sydneyâs Bellevue Hill, and another is taking shape thanks to the recent purchase of former UBS star banker David Di Pilla and his wife, Victoria, of the wealthy Salteri family.
Di Pilla, who is founder and director of Aurrum Aged Care group and chairman of ASX-listed property investment group Home Consortium, has been a Bellevue Hill home owner for more than a decade, having bought the Kambala Road mansion that was home to designer Mark Keighery until he died in 2008. Records show that residence was sold by Keigheryâs widow, Lisa, in 2009 for $9 million.
Calvary Health Care makes $278m bid for Japara
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Japara Healthcare on Friday said it had received a $1.04-a-share offer from not-for-profit Calvary Health Care to acquire all the shares of the owner, operator and developer of aged care homes under a scheme of arrangement.
Japara, said the non-binding proposal by Calvary, which puts a $277.9 million value on the company, assumed no further dividends, distributions or reductions in capital and was subject to conditions include a unanimous recommendation by the Japara board.
“The Japara board has not yet formed a view on the merits of the indicative proposal,” the company said.
Goldman Sachs launches HomeCo Daily Needs REIT entitlement offer
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HomeCo Daily Needs REIT has gone back to its parent for the latest assets its adding to its portfolio.
Home Consortium managing director and group CEO David Di Pilla.
Louie Douvis
The REIT – which was spun-out of David Di Pilla’s Home Consortium at the end of last year – launched a $265 million equity raising on Monday morning to buy seven assets from Home Consortium.
The raising was structured as an underwritten 1-for-2.36 accelerated non-renounceable entitlement offer, and was being handled by Goldman Sachs. The offer was priced at $1.295.
Funds were told the seven large format retail assets the Daily Needs REIT was buying from Home Consortium were purchased on a 6.75 per cent weighted average cap rate.
HomeCo ramps up funds management Property group Home Consortium is stepping up efforts to become a funds manager capitalising on daily shopping and medical needs.
Business by Ben Wilmot
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Subscriber only Property group Home Consortium, once known for converting former Masters stores into shopping outlets, is stepping up efforts to become a funds manager capitalising on daily shopping and medical needs. The company spun off a supermarket owning trust last year and when releasing its half year results on Wednesday flagged that it hopes to eventually grow its medical fund holdings to $2bn. To get there it will spin off a trust of medical and government assets that could amount to about $500m, with HomeCo running a dual track process that could see either a float or an unlisted fund being created.