Aspen to tip Karratha into parks fund for sale BELEAGUERED property fund manager Aspen Group has sparked speculation it will roll its directly owned Karratha mining village into its parks fund ahead of a sale as it looks to liquidate $311 million of commercial property. Yesterday, Aspen announced it would sell off its commercial property portfolio to focus on its accommodation business after handing down yet another weak set of results for fiscal 2013. Market sources said a combination of its on-balance sheet accommodation and its separately managed parks fund would be an attractive purchase. However, sources close to the company played down such an outcome. Aspen recorded a net loss of $34.3m for fiscal 2013, which followed a $147m loss the year prior. The loss came despite $125m of asset sales and was due to impairments at its Karratha village and Ballina retirement village and consolidation of funds. Recently appointed chief executive Clem Salwin said the results were clearly disappointing. We are acutely aware that the share price is trading persistently below NTA (net tangible assets) and that returns to share-owners have been unacceptable. Mr Salwin said the group would continue as a going concern and would meet its milestone with its financiers to pay down $25m in debt by December. Aspen declared a final dividend of 1.5c a share as per its guidance and forecast 0.75c payout for the first half of fiscal 2014 but Mr Salwin said the group's transition plans meant a second half forecast was not possible at present. The portfolio properties for sale include its office tower in Perth, a 50 per cent interest in the tax office's Adelaide offices and two industrial properties. Aspen's shares were flat at 16c.