| 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 |
| Asset type | Social infrastructure |
| Status | Operational |
| Asset Description | 92.5% interest in two portfolios (Aster and Bloom) comprising of 26 facilities representing 4,114 beds located in Alberta and B.C. AgeCare is the operator and owns the balance of the equity ownership interests in the two portfolios. |
| Asset Revenues | Long-term care facilities are licensed, regulated and funded by the provincial government. The provincial government subsidizes the care, programs, supplies and accommodation costs of the residents, who are also subject to a co-payment. The funding rates paid by the government and the residents to the operators are set on an annual basis. |
| Counterparty | Alberta Health Services (agency of the provincial government), Various B.C. Regional Health Authorities (agencies of the provincial government) |
| Asset Type | Energy Infrastructure (100% wind) |
| Status | Operational |
| Asset Description | 1,062 MW diversified portfolio of 7 wind assets. The portfolio is located in 3 states in the US. The portfolio has a weighted average operational age of 7 years and strong historical availability. 65% of capacity is currently contracted under long term offtake agreements. |
| Asset Revenues | The assets are primarily contracted under long-term PPAs with high-grade utility and corporate counterparties that bear a weighted average credit rating of A. Part of the portfolio currently operates on a merchant basis. |
| Contract Expiry | Portfolio has remaining average off-take tenor of 7 years with assets earning revenue on a merchant basis or through new long-term agreements thereafter. |
| Asset type | Energy Infrastructure |
| Status | Operational (COD in October 2015) |
| Asset Description | 100 MW operating wind facility located in Lambton County, Ontario. The wind facility was developed under Ontario’s Feed-in-Tariff (FiT) program. |
| Asset Revenues | 100% of power produced is sold to the IESO under a 20-year Power Purchase Agreement (PPA). |
| Counterparty | IESO (rated Aa3 by Moody’s) |
