INA 1.59% $5.10 ingenia communities group

re: Ann: Ingenia strengthens its Lifestyle Pa... Interesting...

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    re: Ann: Ingenia strengthens its Lifestyle Pa... Interesting that LIC was able to lift their development margin from 17% to 26% due to "improved product mix". Hopefully INA has got the product mix right from the start !

    Interesting the differences in the 2 models with LIC building from greenfield operations (ie vacant land) v INA buying existing parks with existing yields and filling them out. INA model should be less risky with an existing rent base but they give up some of development profit upside that LIC potentially has. LIC would also have the additional expenditure of providing the common infrastructure (clubhouse, internal roads) v already in place with INA.
 
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