Aspen Group
(ASX:APZ) has sold its interest in the Aspen Parks Property Fund for an unspecified price.
Aspen says it has simplified its corporate structure and property portfolio as a result of this sale, which was made to the Discovery Holiday Parks Group.
The company says its property portfolio is worth $80 million as of 31 December 2015, and generates a 12% income yield.
The property group also says its balance sheet is “very strong” with around $61 million in cash and no debt.
Aspen Group reported a net profit of $6 million at 31 December 2015.
