re: Ann: Ingenia strengthens its Lifestyle Pa... Interesting the projected IRR is only 12.5% for this acquisition (more if they can get the other development approvals). Maybe the competition for good sites is driving up prices ?
I suppose id they can make a $100k development profit per site on the 64 development sites they would recoup their purchase and get the yield for free.
It would be good to get some update as to how they are going in achieving the target of 20 new homes developed and sold per month as this will be a major value driver. I suppose if they are working with 6 suppliers they must be starting to churn out a few.
Hopefully there is also some good news from the sale of NZ assets soon as well.
Ann: Ingenia strengthens its Lifestyle Parks port, page-2
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