Aspen secures $35m for working capital
Property developer and funds manager Aspen Group has borrowed $35 million from joint venture partner Telstra Super, in order to “undertake the realisation of value” from its interest in the under-construction ATO Building in Adelaide.
Aspen announced today that its Franklin Street Property trust, the holding vehicle for the ATO Building, had entered a $35 million convertible note facility with Telstra Super, repayable within three years at 10.5 per cent per annum.
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