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Aspen adds $8.5m to its parks property fund


Perth property group Aspen Group announced this week that its Aspen Parks Property Fund has acquired Horseshoe Lagoon in Moama NSW for $8.5 million.
Settlement is expected mid April.
Situated on the Murray River, Horseshoe Lagoon is directly opposite another of the Fund's properties, Yarraby Holiday and Tourist Park, which has generated stable income on the Victorian side of the river to complement other seasonal tourist parks within the portfolio.
Horseshoe Lagoon is property acquisition number 14 for the fund and combined with existing properties, generates a total of $94 million in assets under management.
Aspen Parks will fund the acquisition through its existing debt facilities and believes it is well on track to achieving its objective of $150 million in assets by July 2009.
Aspen Group Managing Director, Angelo Del Borrello said the acquisition increases the Fund's eastern states presence and given its close proximity to Yarraby Park would enable economies of scale to be derived through a rationalised management structure.

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Aspen Group (APZ)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
500thAspen Group-5%-5%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
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Share Transactions

01/10/15
$46k Issued
30/09/15
$260k Bought
30/09/15
$0 Other
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Revenue

th-Aspen Group$15.8m
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Source: Morningstar

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222ndAdam Marrs Ekamper$488k
867thGuy Farrands$112k
917thClive Appleton$98k
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