Australian Firm, Ingenia, Adding to its Portfolio

Australia-based Ingenia will sell its three student accommodation units in Wellington, New Zealand, valued at $35.6 million and invest the receipts in more manufactured housing communities (MHCs). The company paid $10.7 million Nov. 19, 2013 for two MHCs north of Sydney, Australia in Hunter Valley with options to acquire two more. As informs MHProNews, Ingenia already owns seven MHCs. The company raised $61.7 million this past September to help fund this expansion.

(Photo credit: Darren–Brisbane)

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