Aspen Group (ASX:APZ) entered into agreement to acquire 81 apartments at 386 Burwood Highway, Burwood Victoria for AUD 8.1 million on December 4, 2023. The acquisition will be funded with debt or recycling capital out of existing properties that have higher rent points and lower yields of about 3%. The apartments have an annual rent of approximately AUD 1.1 million.

Settlement of the transaction is expected to occur on March 1, 2024.