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ASPEN GROUP — Capital/Financing Update 2011
Aug 14, 2011
64404_rns_2011-08-14_1829fa63-bd91-45ab-9f74-55156550ae6e.pdf
Capital/Financing Update
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Aspen Group Limited ABN 50 004 160 927
Aspen Property Trust ARSN 104 807 767
Level 8, Septimus Roe Square 256 Adelaide Terrace, Perth Western Australia, 6000 Telephone: 08 9220 8400 Facsimile: 08 9220 8401
Email: [email protected]
ASX / MEDIA RELEASE 15 August 2011
SETTLEMENT OF JOINT VENTURE WITH TELSTRA SUPER - ATO BUILDING
Settlement
Further to the announcement dated 21 July 2011, Aspen Group (ASX:APZ) is pleased to advise that the conditions precedent to the joint venture ownership and funding arrangements between 12-26 Franklin Street Property Trust (FSPT) and Telstra Super have been satisfied.
Telstra Super have been issued with their 50% interest in FSPT as a result of the settlement of their $34m equity contribution.
Guarantees Returned
Aspen is pleased to advise that with funding secured, the Group sees all of its outstanding corporate and bank guarantees provided to the Builder (previously advised as $60 million), fully returned or released.
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For further information please contact:
Gavin Hawkins David Tasker Managing Director, Aspen Group Professional Public Relations Phone: (08) 9220 8400 Phone: (08) 9388 0944 Mobile: 0402 148 279 Mobile: 0433 112 936 Email: [email protected]
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About Aspen Group
Aspen Group is an ASX listed property investment and funds management group, focused on acquiring quality property assets and creating and managing innovative property funds and syndicates.
Formed in 2001, Aspen has progressed to now be a member of the S&P/ASX 300 index with assets under management in excess of A$1.3 billion.
Aspen’s core strength lies within the Group’s broad expertise across property acquisition, development and management enabling the Group to provide leading edge property solutions.
Aspen directly owns and manages a well diversified portfolio of commercial property assets Australia-wide. The portfolio is spread across the office, industrial and retail sectors and has grown through acquisitions and portfolio revaluations of existing properties driven by a strong property management focus.
Aspen also has developed an outstanding reputation for creating unique and successful funds management products and related services. These managed funds have provided investment opportunities across a broad spectrum of property sectors including tourist parks, residential land subdivisions, CBD office developments, private hospital developments and retirement and accommodation villages.
Aspen continues to source acquisition opportunities for both balance sheet and syndication purposes in order to achieve further growth in both assets and earnings for security holders.
Website: www.aspengroup.com.au
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