Perth-based Aspen Group has re-opened applications of its successful Aspen Parks Property Fund following the release of an updated Offer Document.
APPF commenced in July 2004 with an investment portfolio of six parks valued at $31 million and has since grown, in line with the Fund’s objectives, to a portfolio of 13 parks valued at over $95 million. The latest capital raising will enable APPF to further grow its portfolio with the aim of achieving a portfolio of park properties of at least $150 million.
APPF has achieved capital growth of 23.5% since commencement and continues to provide investors with attractive distributions of 10c per security, which at the latest application price of $1.2425 equates to a yield of 8.05%.
The reopening of APPF and subsequent acquisition of new parks will provide Aspen Group with further growth in its funds management income.
By Adam Parsons
