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ASPEN GROUP — Capital/Financing Update 2011
Jan 19, 2011
64404_rns_2011-01-19_aa05b377-4484-4994-891e-ccc9618e4fd9.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 20 January 2011
ASPEN RESPONDS TO MEDIA ARTICLE
Aspen Group ( ASX: APZ ) (“Aspen” or “the Group”) is aware of an article in today’s The Australian regarding the reported sale of 55 Currie Street, an office property situated in Adelaide held by the Aspen Property Trust.
Aspen would like to clarify that, contrary to the article, the property referred to has not been sold and confirms the following:
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The asset was the subject of an open market sales campaign in the second half of 2010
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Aspen has entered into an exclusivity arrangement for the potential sale of the asset to a third party
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Negotiations with the third party are incomplete and are subject to a number of conditions
The potential sale of the asset would be in line with Aspen’s previously advised strategy of recycling certain assets within its investment property portfolio into higher grade properties in primary office markets.
Aspen will advise the market immediately if any material developments occur.
End
For further information please contact:
Gavin Hawkins Managing Director, Aspen Group Phone: (08) 9220 8400 Mobile: 0402 148 279
David Tasker Professional Public Relations Phone: (08) 9388 0944 Mobile: 0433 112 936 Email: [email protected]
Aspen Group ASX Announcement 20/01/11
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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$1.4 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
Aspen Group ASX Announcement 20/01/11
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