(MENAFN- ProactiveInvestors - Australia) The total purchase price of $6.8 million for Tween Waters reflects an initial yield of 9.4%, excluding acquisition costs.
Located only a short distance from the town centre and only steps away from the beaches of Merimbula, Tween Waters is a freehold tourist Park consisting of 96 sites.
In addition to its beachfront location, Tween Waters' facilities include 31 cabins and a recently installed water park.
Earlier this month, Aspen acquired the BIG4 Koala Shores Holiday Park in Lemon Tree Passage, New South Wales.
The property is a tourist park consisting of 142 sites, including 34 tourist cabins.
The total purchase price of $10.2 million for Koala Shores reflects an initial yield of 9.5%, excluding acquisition costs.
As with the recent acquisition of Koala Shores, the purchase of Tween Waters is part of Aspen's strategy to become an industry leader in the affordable accommodation sector.
Upon completion, the acquisition will be funded from existing cash holdings of Aspen, with settlement scheduled to occur mid-December 2016 and in time for the peak trading season.
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