Investment Matters

Company news: Ingenia Communities

Ingenia Communities made a new acquisition at Soldiers Point, near Port Stephens in NSW.  It will bring the number of MHE (manufactured home estate) communities in the Newcastle / Hunter region to nine.  The acquisition will be immediately earnings accretive, with a passing yield in excess of 8% and forecast unlevered IRR of over 12% on the acquisition price of $10.5m.  Additionally, the park has DA approved vacant sites, providing immediate opportunity to earn development returns.