Aspen to expand Parks fund

ASPEN is looking to continue expanding the Aspen Parks Property Fund with a new equity raising.

The fund, which commenced in July 2004, has acquired a portfolio of 18 parks across Australia with a value of $160 million since inception.

Aspen’s managing director Angel Del Borrello said having now exceeded its initial five year target of $150 million in assets, Aspen Parks will continue to acquire further assets and enhance existing assets with equity raised under a new offer.

In addition he said Aspen Parks had vindicated the group’s expansion into property funds management three years ago.

“Aspen Parks was the forerunner of the group’s now significant funds management activities and has been a sound contributor to Aspen‘s funds management income,” he concluded.

Australian Property Journal