Australia: AMP Capital infrastructure funds have jointly secured a PBSA asset in Australia’s capital for A$112 million (€72 million).
The AMP Capital Diversified Infrastructure Trust (ADIT) and the AMP Capital Core Infrastructure Fund have bought the 731-bed property at the Australian National University (ANU) in Canberra.
The acquisition is structured as a 35-year concession over the student accommodation facility in Acton, adjacent to the Canberra CBD. It brings AMP Capital’s total portfolio of on-campus beds at ANU to 4,915. AMP Capital is headquartered in Sydney. It is Australia’s largest investor in on-campus student accommodation, with 2,131 beds at the University of Melbourne and the University of Sydney.
ADIT managing director Brad Williams said: “Australian universities are among the best in the world so it’s not surprising to see significant demand for both world leading education and vibrant on-campus life experiences in the context of the difficult lockdown conditions we have all recently faced. We are proud to have continued our long-term partnership with the ANU. This new bed expansion provides high quality on-campus facilities that will support the ANU’s continued growth as Australia’s leading university.”
The transaction was completed with a simultaneous debt refinancing of AMP’s existing portfolio via new debt facilities of around A$575 million with a range of Australian and international banks.
The asset has been designed to retain its natural bushland setting along Sullivans Creek. The facility has smart metering and building management systems, and cross flow ventilation to minimise energy use.
