Highlights
- Sale of the Group’s five Tasmanian Ingenia Gardens rental villages for $18 million
- Sale proceeds to fund accelerated build out of the Group’s development pipeline
Ingenia Communities Group (ASX:INA) today announced that the Group has exchanged unconditional contracts for the sale of five non-core villages, with settlement expected to occur in April 2018.
The sale is consistent with the Group’s announcement at the recent 1H18 results that further asset sales were progressing, in line with the Group’s strategy to divest non-core villages and recycle the proceeds into higher growth lifestyle development projects.
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