Aspen Group (ASX:APZ) agreed to acquire a Perth Apartment Portfolio from Fife Capital for AUD 51.9 million on August 19, 2021. The purchase price of AUD 52 million is pre transaction costs. The portfolio includes 17 properties comprising 514 apartments located in Perth’s suburbs of Applecross, Claremont, Swanbourne, Trigg, and Maylands. The purchase price is equating to approximately AUD 101000 per apartment. The acquisitions of the Perth Apartment Portfolio and Wodonga Gardens are intended to be funded with approximately AUD 28.3 million of equity comprising of an equity issue of approximately 17.45 million of new stapled Aspen securities of AUD 23.2 million, up to AUD 2.75 million in a Securityholder Purchase Plan, and a conditional placement to Directors and employees for AUD 2.25 million. Additionally, the acquisitions will be funded with approximately AUD 34.4 million of debt. Aspen’s debt facility provider has agreed to increase the revolving debt facility limit to AUD 150 million, subject to formal documentation and completion of the equity raising. The equity raising of AUD 23.3 million was completed on August 19, 2021. UBS AG, Australia Branch acted as lead manager, bookrunner and underwriter to Aspen Group in relation to the placement. Aspen Group (ASX:APZ) completed the acquisition of Perth Apartment Portfolio from Fife Capital on September 16, 2021. Aspen was led jointly by John Carter and David Dixon. Jenkins Property Advisory's Lloyd Jenkin brokered the sale for Fife.