NEW YORK CITY—Newly formed Aspen REIT intends to be the first single-asset real estate investment trust to list on a major US exchange. The company said Monday it had filed with the SEC to launch an initial public offering, from which it anticipates $33.5 million in gross proceeds.

The Company plans to offer 1.675 million shares at $20 apiece and intends to apply to list its common stock on the New York Stock Exchange under the ticker symbol “AJAX.” Aspen plans to use most of the net proceeds from the IPO, along with equity in its subsidiary operating partnership, to acquire a 100% indirect interest in the St. Regis Aspen Resort, which opened in Aspen, CO in 1992 under the Ritz-Carlton flag.

“Historically, the chance to own a portion of an individual property of this caliber and stature was only available to institutions,” says Stephane De Baets, Aspen REIT's CEO and president. “With our offering, we are changing this model while at the same time providing individual investors with liquidity optionality for a single-asset investment. Our value proposition is innovative and, we believe, highly compelling.”