Forum Partners, a US real estate investment fund, has purchased around 90% of five Ingenia villages in Rockhampton, Cessnock, Brisbane and Perth for a net $41M. Ingenia retains 10% ownership via a joint company plus the management.
They were sold at a discount rate of 11.7%. This is the second deal by Ingenia with Forum, who purchased their NZ student accommodation in 2014.
This leaves Ingenia with three retirement villages that it owns outright.
