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Aspen’s $31m Sydney office

WESTERN Australian property investor Aspen Group Ltd has bought a Sydney office property for $31 million, a price slightly above its stated $5 million to $30 million range, as it seeks grow its Aspen Diversified Property Fund by $250 million. Aspen Diversified is an unlisted commercial property fund launched in April 2005 and managed by Aspen Funds Management Limited, a wholly owned subsidiary of the Aspen Group. Aspen Group managing director Angelo Del Borrello said the proposed acquisition was in keeping with the strategic direction of the fund and would lift gross assets for Aspen Diversified to $80 million, represented by seven properties. “We are seeking to grow the fund to $250 million in assets, focusing on properties in the $5 million to $30 million range, an area which Aspen believes offers good opportunities for investors,” he said.

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Aspen Group (APZ)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/03/18

1 year TSR5 year TSR
385thAspen Group6%-8%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

01/10/15
$46k Issued
30/09/15
$260k Bought
30/09/15
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Aspen Group$15.8m
77 listed non wa companies ranked by revenue.
Source: Morningstar

Remuneration from Aspen Group

241stAdam Marrs Ekamper$488k
918thGuy Farrands$112k
970thClive Appleton$98k
Ranked by total remuneration from all listed WA companies

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