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New property fund for Aspen

PROPERTY investment firm Aspen Group has launched a new unlisted property investment fund. The Aspen Diversified Property Fund will raise $15 million to initially fund the acquisition of five commercial properties valued at $36 million. The properties are all located in Western Australia and include two retail properties – the Champion Drive Shopping Centre and Midland Cinemas. Aspen expects income from the new fund to increase the firm’s earnings by about 14 per cent over the first 12 months, and 8 per cent a year in the following two years.

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