Aspen REIT, Inc. ( “Aspen REIT”), a recently-formed, single-asset real estate investment trust (“REIT”), today announced that its offering statement on Form 1-A filed with the Securities and Exchange Commission (“SEC”) in connection with its planned $33.5 million Regulation A+ initial public offering (the “IPO”) has been qualified by the SEC. Aspen REIT is offering 1,675,000 shares at $20.00 per share in the IPO. Aspen REIT has applied to list its common stock on the NYSE American stock exchange under the ticker symbol “AJAX.”
Upon closing of the IPO, Aspen REIT will be the first single-asset REIT to list on a national securities exchange in the United States. Aspen REIT intends to use substantially all of the net proceeds from the IPO, together with equity in Aspen REIT’s subsidiary operating partnership, to acquire the renowned St. Regis Aspen Resort in Aspen, Colorado (the “St. Regis Aspen”).
Investors may subscribe for shares of common stock of Aspen REIT in the IPO or indicate an interest in subscribing for shares at www.m-vest.com/aspenreit.
Maxim Group LLC is the lead managing selling agent for the offering.
“Today, any investor can subscribe to become a part owner in the St. Regis Aspen Resort, one of the world’s finest luxury hotels,” said Stephane De Baets, Chief Executive Officer, President and Chairman of Aspen REIT. “Through this first-of-its-kind offering in the United States, we are leveling the playing field for all investors, creating equal opportunity to participate in the upside associated with a first-class resort destination supported by strong fundamentals, an experienced leadership team and a world-class property manager.”
About Aspen REIT
Aspen REIT, Inc. is a recently-formed company that intends to own the St. Regis Aspen Resort, a full-service, 179-room luxury hotel with four onsite food and beverage outlets and 29,000 square feet of indoor and outdoor conference and banquet venues with views of the Rocky Mountains. The St. Regis Aspen is managed by a subsidiary of Marriott International Inc. The St. Regis Aspen is located in the famous resort town of Aspen, Colorado, home of year-round events such as The World Cup ski races, The ESPN Winter X Games, The Food & Wine Classic, and The Aspen Music Festival. Aspen REIT intends to be the first single-asset REIT to list on a national exchange and is externally managed by a majority-owned subsidiary of Elevated Returns LLC, a New York-based real estate asset management and advisory firm.