Highlights
• Acquires Durack Gardens lifestyle community located in metro Brisbane
• Accretive $25 million acquisition forming part of May 2017 capital raising
• Significant opportunity to enhance returns through expansion and reconfiguration
• Adds 253 income producing sites to key Brisbane cluster
Ingenia Communities Group (ASX:INA) today announced that following completion of due diligence and final Board approval, the Group has exchanged unconditional contracts for the third acquisition announced on 3 May 2017 in conjunction with a fully underwritten $74 million capital raising. The Group expects to settle the acquisition of Durack Gardens, located approximately 15 kilometres south west of the Brisbane CBD, later this month.
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