Hamilton Locke is proud to have advised Eureka Group Holdings (ASX: EGH) (Eureka) on the successful establishment and close of its first wholesale all-age rental fund, the Eureka All-Age Village Fund No. 1 (Fund).
What makes this transaction particularly rewarding is that it aligns investor capital with a solution to one of Australia’s most pressing challenges: the shortage of affordable rental accommodation for working Australians, retirees and regional communities.
The launch of the Fund also marks an important step in the evolution of Eureka and the execution of its growth strategy, being Eureka’s first fund in the all-age rental sector, after its established prominence in the seniors’ rental sector.
The Fund secured $14.35 million in equity commitments, together with a $14.50 million senior debt facility.
Not only was it our pleasure to work closely with the lead Eureka team, we also enjoyed working with the teams at MARQ Trustees (who is supporting the Fund as its trustee, custodian and registry services provider) and Couloir Capital (which is acting as Lead Adviser to the Fund).
The Hamilton Locke team was led by Funds and Financial Services Partner Erik Setio, Real Estate Partner Sarah Roettgers, and Taxation Partner Seema Sandhu, together with Senior Associates Claudia Silano-Malouf and Annabelle Muskitta, and supported by Partner Matthew Cridland, Special Counsels Anushka De Alwis and Catherine Nufer, Senior Associate Ramin Beigi, and Lawyers Crystal Xu, Alyse McDermott, Bishoy Basanty and Senior Paralegal Deb Lucas.
Hamilton Locke’s involvement in this transaction highlights our ability in handling complex fund establishment and capital markets transactions, and completing unique property transactions, including land lease communities.
