Ingenia Communities Group has announced a 1 for 4.24 accelerated non-renounceable entitlement offer to existing securityholders to raise approximately A$475 million ($354 million) in equity.
The equity raising proceeds will be used to partially fund the acquisition, totaling A$552 million ($411 million), including the contracted acquisitions of Seachange Group, Caravan Parks of Australia, and a lifestyle greenfield development site in metropolitan Brisbane. A further six acquisitions are currently under exclusive offer or in advanced due diligence.
Seachange’s portfolio of six lifestyle communities comprises two fully mature and income-producing sites, two partially completed sites with development upside and two greenfield development sites. The acquisition will add 693 additional income-producing sites and a further 548 potential development sites to Ingenia’s Lifestyle portfolio in addition to an established operating and development platform, significantly expa
