Aspen REIT Files for Initial Public Offering

11/13/17

NEW YORK--(BUSINESS WIRE)--Aspen REIT, Inc, a newly-formed, single-asset real estate investment trust, today announced that it has filed a Form 1-A with the Securities and Exchange Commission to launch a Regulation A+ initial public offering to raise approximately $33.5 million in gross proceeds. The Company intends to use most of the net proceeds from IPO, together with equity in the Company’s subsidiary operating partnership, to acquire a 100% indirect interest in the Property.

The planned IPO will afford any investor the opportunity to invest in the renowned St. Regis Aspen Resort in Aspen, Colorado (the “Property”). The Company plans to offer 1,675,000 shares at $20.00 per share and intends to apply to list its common stock on the NYSE American stock exchange under the ticker symbol “AJAX.”

The St. Regis Aspen Resort is a full-service, 179-room luxury hotel with upscale restaurants, a private spa, 29,000 square feet of indoor and outdoor conference and banquet venues, and a heated outdoor pool with panoramic views of the Aspen mountainside. The Property, which is managed by a subsidiary of Marriott International Inc., the world’s largest hotel company, consistently attracts a wide range of guests including families, celebrities and top executives due to its location, amenities and year-round activities including world-class skiing and cultural and sports events.

The Company is led by experienced real estate and hospitality investor Stephane De Baets, Chief Executive Officer, President and a member of the Company’s Board of Directors (the “Board”). Mr. De Baets has approximately 20 years of experience in asset management, financial structuring, and mergers and acquisitions. Corporate finance veteran Michael Wirth serves as Aspen REIT’s Chief Financial Officer. Over the course of his more than 30-year career in the financial services and real estate sectors, Mr. Wirth has been involved with multiple IPOs of newly organized or start-up companies. Both Mr. De Baets and Mr. Wirth have a deep understanding of the St. Regis Aspen Resort’s operating performance as well as the opportunities that exist to enhance the Property’s long-term value, quality and attractiveness. Mr. De Baets is affiliated with the current owner of the Property.

“We plan to bring to the market a first-of-its-kind real estate offering that provides individual investors with the opportunity to own shares in a highly attractive, trophy asset in the St. Regis Aspen Resort,” said Mr. De Baets. “Historically, the chance to own a portion of an individual property of this caliber and stature was only available to institutions. With our offering, we are changing this model while at the same time providing individual investors with liquidity optionality for a single-asset investment. Our value proposition is innovative and, we believe, highly compelling.”

Maxim Group LLC will act as the lead managing selling agent for the offering. Aspen REIT intends to make history by being the first single-asset REIT to list on a national securities exchange in the United States.

Individuals may obtain a copy of the most recent version of the offering statement containing the preliminary offering circular with the following link: www.m-vest.com/aspenreit. Individuals interested in learning more about the offering can also call (800) 645-9144.

About Aspen REIT

Aspen REIT, Inc. is a newly-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.

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