{"id":1004205008,"date":"2018-01-26T02:21:10","date_gmt":"2018-01-26T10:21:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004205008"},"modified":"2022-12-08T17:52:48","modified_gmt":"2022-12-09T01:52:48","slug":"reit-gets-sec-ok-for-st-regis-aspen-resort-ipo","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/","title":{"rendered":"REIT Gets SEC OK for St. Regis Aspen Resort IPO"},"content":{"rendered":"

By Gail Kalinoski<\/em><\/p>\n

\"St.<\/a>

St. Regis Aspen Resort<\/p><\/div>\n

Aspen REIT Inc. has been given approval by the Securities and Exchange Commission for a $33.5 million initial public offering allowing investors to buy shares in the luxury St. Regis Aspen Resort in Colorado.<\/p>\n

Upon closing of the IPO,\u00a0Aspen REIT will be the first single-asset REIT to list on a national securities exchange in the U.S., according to the company.<\/p>\n

Aspen REIT is offering 1,675,000 shares at $20 per share in the Regulation A+ IPO. The REIT applied to list its common stock on the NYSE American stock exchange under the ticker symbol AJAX. Aspen REIT intends to use substantially all of the net proceeds from the IPO, together with equity in Aspen REIT\u2019s subsidiary operating partnership, to acquire the St. Regis Aspen Resort, a full-service, 179-key luxury hotel at the base of Aspen Mountain in the Rocky Mountains. The resort has four onsite food and beverage outlets, a private spa and 29,000 square feet of indoor and outdoor conference and banquet venues. It is managed by a subsidiary of Marriott International Inc.<\/p>\n

\"St.<\/a>

St. Regis Aspen Resort<\/p><\/div>\n

\u201cToday, any investor can subscribe to become a part owner in the St. Regis Aspen Resort, one of the world\u2019s finest luxury hotels. Through this first-of-its-kind offering in the United States, we are leveling the playing field for all investors, creating equal opportunity to participate in the upside associated with a first-class resort destination supported by strong fundamentals, an experienced leadership team and a world-class property manager,\u201d<\/em> Stephane De Baets, CEO, president & chairman of Aspen REIT, said in a prepared statement.<\/p>\n

De Baets told Commercial Property Executive<\/em> in an email that they hope to begin trading shares in February.<\/p>\n

Regulation A + and the JOBS Act<\/strong><\/h2>\n

He said the decision to choose a Regulation A+ IPO was made to reach as many investors as possible. In March 2015, the SEC agreed to\u00a0an update referred to as Regulation A+<\/a>\u00a0 as part of the Jumpstart our Business Startups (JOBS) Act that allowed smaller companies to sell as much as $50 million in securities in a 12-month period, with certain requirements and by accredited investors. The change opened up the real estate investment world to those with thousands to deploy in addition to those with millions.<\/p>\n

\u201cThere\u2019s different ways to raise money when you want to be a public company. Depending on which route you choose, the SEC allows you to market your product in certain ways. Obviously, in our case, we wanted to reach all investors as well as the general public, and in a Regulation A + offering, we are allowed to do that by leveraging the power of digital marketing,\u201d<\/em> De Baets said in the email. \u201cWe truly believe that digital marketing is the best way to raise money, which is why a Reg +A offering was attractive to us.\u201d<\/em><\/p>\n

Maxim Group LLC is the lead managing selling agent for the offering.<\/p>\n

Aspen REIT, a recently-formed, single-asset REIT, is externally managed by a majority owned subsidiary of Elevated Returns LLC, a New York-based real estate asset management and advisory firm.<\/p>\n

Images courtesy of Aspen REIT Inc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Upon closing of the $33.5 million initial public offering, the company would become the first single-asset REIT to list on a U.S. securities exchange.<\/p>\n","protected":false},"author":1068,"featured_media":1004205011,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21751,21783,23891,21742,15],"tags":[32802,38949,38892],"class_list":["post-1004205008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-hotel","category-investment","category-national","category-latest","category-west","tag-marriott-international","tag-regulation-a","tag-st-regis-hotels-resorts"],"acf":[],"yoast_head":"\nREIT Gets SEC OK for St. Regis Aspen Resort IPO - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"REIT Gets SEC OK for St. Regis Aspen Resort IPO\" \/>\n<meta property=\"og:description\" content=\"Upon closing of the $33.5 million initial public offering, the company would become the first single-asset REIT to list on a U.S. securities exchange.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-26T10:21:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:52:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Aspen-Resort.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/\"},\"author\":{\"name\":\"Gail Kalinoski\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"headline\":\"REIT Gets SEC OK for St. Regis Aspen Resort IPO\",\"datePublished\":\"2018-01-26T10:21:10+00:00\",\"dateModified\":\"2022-12-09T01:52:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/\"},\"wordCount\":543,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/St.-Regis-Aspen-Resort.jpg\",\"keywords\":[\"Marriott International\",\"Regulation A+\",\"St Regis Hotels & Resorts\"],\"articleSection\":[\"Featured\",\"Finance\",\"Hotel\",\"Investment\",\"National\",\"News\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/\",\"name\":\"REIT Gets SEC OK for St. Regis Aspen Resort IPO - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/St.-Regis-Aspen-Resort.jpg\",\"datePublished\":\"2018-01-26T10:21:10+00:00\",\"dateModified\":\"2022-12-09T01:52:48+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/St.-Regis-Aspen-Resort.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/St.-Regis-Aspen-Resort.jpg\",\"width\":800,\"height\":620,\"caption\":\"St. Regis Aspen Resort\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"REIT Gets SEC OK for St. Regis Aspen Resort IPO\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/gail-kalinoski\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"REIT Gets SEC OK for St. Regis Aspen Resort IPO - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/","og_locale":"en_US","og_type":"article","og_title":"REIT Gets SEC OK for St. Regis Aspen Resort IPO","og_description":"Upon closing of the $33.5 million initial public offering, the company would become the first single-asset REIT to list on a U.S. securities exchange.","og_url":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-01-26T10:21:10+00:00","article_modified_time":"2022-12-09T01:52:48+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Aspen-Resort.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/"},"author":{"name":"Gail Kalinoski","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"headline":"REIT Gets SEC OK for St. Regis Aspen Resort IPO","datePublished":"2018-01-26T10:21:10+00:00","dateModified":"2022-12-09T01:52:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/"},"wordCount":543,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Aspen-Resort.jpg","keywords":["Marriott International","Regulation A+","St Regis Hotels & Resorts"],"articleSection":["Featured","Finance","Hotel","Investment","National","News","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/","url":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/","name":"REIT Gets SEC OK for St. Regis Aspen Resort IPO - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Aspen-Resort.jpg","datePublished":"2018-01-26T10:21:10+00:00","dateModified":"2022-12-09T01:52:48+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Aspen-Resort.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Aspen-Resort.jpg","width":800,"height":620,"caption":"St. Regis Aspen Resort"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/reit-gets-sec-ok-for-st-regis-aspen-resort-ipo\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"REIT Gets SEC OK for St. Regis Aspen Resort IPO"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/St.-Regis-Aspen-Resort.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004205008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004205008"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004205008\/revisions"}],"predecessor-version":[{"id":1004619624,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004205008\/revisions\/1004619624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004205011"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004205008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004205008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004205008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}