Australian REIT Ingenia To Add A$552m Million (US$410.1 Million) Assets To Portfolio (IPE Real Assets)
November 3, 2021 – Australia-listed lifestyle communities and holiday park operator Ingenia Communities is planning to buy up to A$552m (US$410.1 million) worth of assets.
The real estate investment trust (REIT) has contracted to buy assets totalling A$404 million (US$300 million) and is also in talks to buy assets worth A$148 million (US$110 million).
The acquisition will add 693 additional income-producing sites and a further 548 potential development sites to Ingenia’s lifestyle portfolio.
Simon Owen, chief executive of Ingenia, told IPE Real Assets that the transactions will lift the firm’s portfolio from A$1.2 billion (US$890 million) to A$1.8 billion (US$1.34 billion).
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