Aspire Real Estate Investors, Inc. Prices IPO at $20.00 Per Share (ASPI)

Aspire Real Estate Investors, Inc. (ASPI) plans to raise $300 million in an initial public offering on Tuesday, November 17th, IPO Scoop reports. The company plans to issue 15,000,000 shares at a price of $20.00 per share.

Morgan Stanley, B. Riley Securities, Wells Fargo Securities, BMO Capital Markets and Keybanc Capital Markets served as the underwriters for the IPO and Loop Capital Markets, Ramirez & Co. and Siebert Williams Shank were co-managers.

Aspire Real Estate Investors, Inc. provided the following description of their company for its IPO: “This is a REIT (real estate investment trust) focused on investing in, developing, redeveloping and managing a portfolio of primarily affordable and workforce multifamily housing in Opportunity Zones, as designated by the Tax Cuts and Jobs Act of 2017, within dynamic, U.S. metropolitan areas. We believe we will be the first publicly traded REIT to pursue a strategy focused on affordable and workforce multifamily housing in Opportunity Zones. We are externally managed and advised by Aspire REIT Manager, LLC, a newly formed entity controlled by affiliates of Avanath Capital Management, LLC and MacFarlane Partners, LLC, two of the largest African American-owned real estate companies in the U.S. (Note: “Opportunity Zone” means a population census tract that is a low-income community designated by the governor or other chief executive of the relevant state (including the District of Columbia) or territory as a “qualified opportunity zone” for U.S. federal income tax purposes and certified as such by the U.S. Department of the Treasury pursuant to the 2017 Tax Act.) “.

Aspire Real Estate Investors, Inc. was founded in 2020 and has 0 employees. The company is located at 1920 Main Street, Suite 150 Irvine, California 92614 and can be reached via phone at (949) 269-4700.

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