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INGENIA COMMUNITIES GROUP — Capital/Financing Update 2010
Jun 2, 2010
65125_rns_2010-06-02_f2102587-da4c-4cfc-aa2a-11ec69fbd45e.pdf
Capital/Financing Update
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ASX Announcement
REAL ESTATE INVESTMENT MANAGEMENT
Date
3 June 2010 Fund
ING Real Estate Community Living Group (ILF)
ILF Announces Settlement of Regency Portfolio
ING Real Estate Community Living Group (ASX:ILF) today announced the settlement of the Regency portfolio.
As previously announced in December 2009, the Fund entered contract to sell its 50% interest in its Canadian Long Term Care Regency portfolio to existing joint venture partner Chartwell Seniors Housing Real Estate Investment Trust.
Sale proceeds for the Regency portfolio of C$7.0m will be used by the Fund to repay debt and derivative obligations.
ILF Chief Executive Officer, Simon Owen, said “This transaction completes ILF's strategic withdrawal from the Canadian market and, along with the settlement of the Meridian portfolio in May, further focuses the Fund on its core assets".
For further information, please contact Simon Owen Johanna Keating Chief Executive Officer Head of Investor Relations & Marketing ING Real Estate Community Living Group ING Real Estate Investment Management ING Real Estate Investment Management T: +61 409 168 848 Australia T: +61 2 9033 1310 M: +61 412 389 339
About ING Real Estate Community Living Group
ING Real Estate Community Living Group (ASX code: ILF) is an externally managed ASX listed real estate investment trust that develops, owns and manages a diversified portfolio of senior housing communities. The Fund has total assets under management of $687 million with investments located predominantly throughout Australia and the US.
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REAL ESTATE INVESTMENT MANAGEMENT
About ING Real Estate Investment Management
ING Real Estate Community Living Group is one of five listed real estate investment trusts that are managed by ING Real Estate Investment Management Australia on behalf of 60,000 investors.
Globally, ING Real Estate Investment Management focuses on the investment management of quality real estate in all major global markets with a total portfolio of more than A$95 billion. ING Real Estate Investment Management is one of the leading investment management companies and serves a broad client base from four continents, Europe, North America and South America, Asia and Australia.
ING Real Estate Investment Management is part of ING Group, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries.
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