RAC

A$34m Acquisition of Leisure Assets from Aspen Parks Property Fund

September 2015

In September 2015, RAC Tourism Assets Pty Ltd (RAC) acquired three properties in north-west Western Australia from Aspen Parks Property Fund. The acquisition price of the tourism accommodation properties – Monkey Mia Dolphin Resort in Shark Bay, Exmouth Cape Holiday Park in Exmouth and Ningaloo Reef Resort in Coral Bay – was in line with the book value as at 31 December 2014 (A$34m).

Azure introduced the opportunity to RAC and advised RAC on all aspects of the transaction from assessment and valuation of the opportunity through to the structuring, due diligence and negotiation of the business sale agreement.