ING: Kingston Gardens makes good money, part of strategy

ING Real Estate Community Living Group (ILF) has sold its Kingston Gardens retirement village in Hobart to Centacare. ILF CEO, Simon Owen, said the sale was “part of an on-going strategy to divest non-core or under-performing villages.” Sale proceeds of $3 million will be used to pay down debt. Kingston Gardens was independently valued in December at $2.3m.