US investment fund buys majority of Ingenia retirement villages

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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.

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