Ingenia Communities Group (ASX:INA) today announced the acquisition of Merry Beach Caravan Park for $20.5 million.
The caravan park is a large, established holiday park on the NSW South Coast.
Accommodation includes over 540 income producing sites, with annuals providing approximately two thirds of revenue.
Facilities include a swimming pool, playground and walking tracks, with direct beach access.
The Park is approximately three and half hours south of Sydney.
Shares in Ingenia Communities Group (ASX:INA) are trading 0.83 per cent higher to $4.88.