| Asset Type | Transportation Infrastructure |
| Status | Operational (project completion was achieved on December 18, 2019) |
| Project Description | Project involves the design, construction, financing and maintenance of a suburban train maintenance center, which will include an inspection building, a workshop for major repairs, a wheel profiling workshop, a washing process building, and a day garage to park the trains |
| Project Revenues | 100% availability-based (no exposure to volume / market risk) |
| Counterparty | Réseau de transport métropolitain (RTM) (formerly AMT: agency of the government of Québec coordinating public transportation services across the Montreal region) |
| Concession Expiry | 2048 (concession term: 30 years after substantial completion) |
| Asset Type | Energy Infrastructure |
| Status | Operational (COD in December 2015) |
| Asset Description | 150 MW wind project utilizing Vestas turbine technology, with turbine and Balance of Plant (BOP) operations and maintenance services provided by Vestas and EDF Renewable Services. |
| Asset Revenues | 100% of power produced is sold under a 20 year term Power Purchase Agreement (PPA). |
| Counterparty | Kansas City Power & Light |
| PPA Expiry | 2036 (20 years following COD) |
| Asset Type | Social Infrastructure (graduate student housing) |
| Status | Operational (substantial completion in 2014) |
| Asset Description | Aspire at West Campus is a purpose-built graduate student housing facility located at the University of Iowa (UI) in Iowa City. The facility is the only on-campus graduate student housing facility at UI and consists of 521 apartments with a total of 862 beds. Aspire is currently operated pursuant to a ground lease and operating agreement with UI under a 50-year term, including sponsor’s 10-year extension option. Rental rates are set collaboratively with the University but the sponsor has ultimate decision making authority. The original developer, Balfour Beatty, has been retained as property manager and is responsible for maintenance of the property as well as unit leasing and rent collection, for which the University also provides support. |
| Asset Revenues | Rental revenue is collected from students every month. Revenues earned above a 95% occupancy rate are split 50:50 with UI. |
| Asset Type | Social Infrastructure (graduate student housing) |
| Status | Under construction (commercial operations in 2023) |
| Asset Description | Swiftsure Housing Partners is a partnership between Axium and Balfour Beatty to construct a graduate student housing facility located at Vanderbilt University in Nashville, Tennessee. The facility will be the only on-campus graduate student housing facility at Vanderbilt University and consists of 529 apartments with a total of 616 beds. The facility will be operated pursuant to a ground lease and cooperation agreement with Vanderbilt University under a 65-year term. Rental rates are set collaboratively with the University on an annual basis and are subject to a cap that ensures rental rates will stay at a specified discount to market rates in the Nashville area. Balfour Beatty Campus Solutions has been retained as property manager and is responsible for maintenance of the property as well as unit leasing and rent collection, for which the University also provides support. |
| Asset Revenues | Rental revenue is collected from students every month. Revenues earned above a 95% occupancy rate are split 75% to Swiftsure Housing Partners and 25% to Vanderbilt University long-term. |
| Counterparty | Balfour Beatty Campus Solutions (property manager)Vanderbilt University (S&P: AA+ / Moody’s: Aa1 / Fitch AAA) |
| Contract Expiry | Ground lease with the Vanderbilt University expires in 2086 |
