Ingenia Communities Group (ASX: INA) has exchanged contracts for the sale of five assets from its managed funds, with the final asset expected to be sold in the coming months, according to a Wednesday filing with the Australian bourse.
The sale, valued at around AU$80 million, will facilitate the Group's exit from its funds business and the return of capital to investors, the filing said.
The asset sales will settle progressively by February 2025, with the funds winding up in the second half of the fiscal year ending June 30, 2025.
Ingenia expects to release AU$5.5 million in capital and receive performance fees, offset by a goodwill write-down, the filing added.
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