Ingenia Communities Well-Placed Considering Australia's Undersupply of Residential Dwellings

Just over half of Ingenia Communities’ midcycle EBITDA is from land-lease property sales and rent. Ingenia collects rent on about 6,000 land-lease sites, across 70 land-lease and holiday park communities on Australia’s east coast. The firm’s strategy is to build higher-end communities primarily in Australia’s coastal and outer metropolitan areas. Following significant land acquisitions over the past few years, Ingenia has a pipeline of about 6,000 new dwellings, and 18 sites currently in development or planning. All are targeting over-55s and leveraged to the thematic of the aging population and the rising cost of housing.