GDI Property Group (ASX:GDI) said its mining accommodation co-living joint venture has exchanged contracts to acquire three assets in Moranbah, Queensland, for AU$18.3 million in total, according to a Wednesday filing with the Australian bourse.

The transaction consists of the 144-room Smartstay Village, the 53-room Motor Inn, and the 45-room Outback Motel.

The acquisition will be funded through cash reserves and a new debt facility, and settlement of the assets is expected on Oct. 31, the filing said.