Aspen Group signed a contract to acquire partially refurbished co-living community at Cooks Hill, Newcastle for AUD 3.8 million.

Aspen Group (ASX:APZ) signed a contract to acquire partially refurbished co-living community at Cooks Hill, Newcastle for AUD 3.8 million on May 20, 2020. Aspen is acquiring the property under a liquidator's sale. The transaction is expected to be debt funded. The deal is funded from equity raising through Security Purchase Plan of AUD 3 million and Placement of AUD 17 million. The transaction is expected to close in 6 weeks.