Sun Communities Invests in Ingenia

In November 2018 Ingenia Communities announced a strategic partnership with the United States based Sun Communities (Sun). Sun operates 370 lifestyle communities throughout North America and Canada. As part of the partnership, Ingenia have raised $74.6 million in capital (through a share placement with Sun) to facilitate acquisitions and development.

This announcement further underpins the increasing demand from overseas based institutions within the Australian sector. Whilst the local market is in a stage of relative-infancy and is characterised by fragmented ownership, the operational model is straightforward and market fundamentals remain attractive.