The global financial services group has acquired more than 20 million shares in the ASX-listed land lease, rental village, and holiday park owner.
The investment equates to a 5.01% stake in Ingenia and means Macquarie Group is now the sixth largest shareholder in Ingenia Communities, which has over 11,000 residents paying rent and manages $2.2 billion in property in total.
Sun Communities, the US-based real estate investment trust, is the largest shareholder with a 10.3% stake in the company. The second largest shareholder, New York-based investment manager Cohen & Steers has also increased its stake to 8.7% by buying a further 6.1 million shares.
The Weekly SOURCE reported in February that Ingenia Communities was seeking to accelerate construction with 500 new homes being built this financial year and work starting on 16 land lease communities.
At that time, Ingenia had development approval for 3,341 homes with another 3,110 homes requiring approval. 90% of those homes are in the prime markets of Queensland and coastal and regional markets.
Since the investment was announced last week, Ingenia’s share price has risen from $4.10 to $4.34 as of 1:40pm yesterday.
