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Aspen REIT postpones IPO on NYSE

Aspen REIT Inc. postponed its IPO, a plan that would have made it the first single-asset real estate investment trust to list on a national securities exchange in the U.S.

CEO, President and Chairman of Aspen REIT Stephane De Baets said in a statement that the decision will allow the company to "re-tool our crowd funding distribution channel in order to create a seamless conversion of the robust traffic to our site." De Baets also noted that the IPO received "strong" interest from international and high-net-worth investors.

Aspen REIT filed for the IPO on the NYSE in November 2017, when it said it was targeting about $33.5 million from the offering of 1,675,000 shares at $20 apiece. Its only property is the Marriott International Inc.-managed, 179-room St. Regis Aspen Resort in Aspen, Colo. The now-canceled listing was qualified by the SEC on Jan. 23.