Aspen Parks on track for $150m in assets by 2009

With confirmation of settlement of its latest acquisition, the Aspen Group believes its Aspen Parks Property Fund is on track to achieve the fund's target of $150 million in assets by July 2009.
Horseshoe Lagoon at Moama in New South Wales is the latest addition to the Aspen Parks Property Fund stable, which currently stands at 14.
The fund's assets under management are approximately $94 million, and a second capital raising is due for release shortly, facilitating further acquisitions and growth for the fund during 2006.

Aspen Group managing director Angelo Del Borrello said the acquisition demonstrated further exciting growth for the Fund.

"Horseshoe Lagoon provides Aspen Parks with a stable annual income while offering growth opportunities through the planned development of surplus land," Mr Del Borrello said.

Horseshoe Lagoon is situated on the Murray River in NSW, directly opposite another of the fund's properties, Yarraby Holiday and Tourist Park, at Echuca on the Victorian side of the river.
The park is predominately occupied by annual holidaymakers generating stable income for the Fund.