MHPronews has learned from couriermail Ingenia Communities Group has acquired manufactured home community Upstream Bethania in its target market of Brisbane, Australia, and very near to Chambers Pines Lifestyle Resort, another recent purchase.

The newest acquisition has 54 developed homesites, and work will begin immediately on the 74 additional approved sites. Development of the community, for which Ingenia paid $8.15 million ($6.11 million USD), will expand the company’s opportunity to benefit from the growth of those 50 and older within the Logan Local Government Area. The demographic indicates seniors will comprise 31.2 percent of the of the population by 2031.

Upstream Bethania features a bowling green, swimming pool, library, game room, barbecue facilities and heated spa.

Sales prices of homes in the community have ranged from $260,000 to $355,000 ($195,000 to $266,250 USD). According to CEO Simon Owen, Ingenia is poised to make future acquisitions. ##

(Photo credit: Ingenia Communities Group-manufactured home in Australia)

Article submitted by Matthew J.Silver to Daily Business News-MHProNews.