| 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 | Energy Infrastructure |
| Status | Operational (COD in August 2016) |
| Asset Description | Run-of-river hydro facility located 10km downstream of East Toba River with a total capacity of 62 MW. |
| Asset Revenues | 100% of power produced is sold under a 40-year Power Purchase Agreement (PPA). |
| Counterparty | BC Hydro |
| PPA Expiry | July 2056 (40 years following COD) |
| Asset Type | Energy Infrastructure (District heating & cooling) |
| Status | Operational (generation unit COD between 1980 and 2017) |
| Asset Description | Tri-generation energy complex located in Boston’s Longwood Medical and Academic Area (LMA). Medical Area Total Energy Plan (MATEP) provides 100 MW of electricity capacity, 1,000,000 lbs / hr of steam capacity, and 41,000 tons chilled water. |
| Asset Revenues | Revenues derived from long-term utilities contracts with hospitals and medical institutions located in the LMA, including six hospitals affiliated with Harvard University. |
| Counterparty | Institutes affiliated with Harvard Institutes of Medicine (Boston Children’s Hospital, Brigham & Women’s Hospital, Beth Israel, Dana-Farber Cancer Institute, Harvard Medical School, Joslin Diabetes Center) (Average credit rating of AA-) |
| Contract Expiry | 2051 (~33 years following acquisition closing) |
| Asset Type | Energy Infrastructure |
| Status | Operational |
| Asset Description | Quality Wind: a 142.2 MW wind facility located near Tumbler Ridge in northeastern British Columbia PDN Wind: a 104.4 MW wind facility located in Haldimand and Norfolk Counties in southern Ontario |
| Asset Revenues | 100% of the power produced is sold to BC Hydro and the IESO under long-term Power Purchase Agreements (PPA), with a capacity-weighted remaining term of approximately 11 years. |
| Counterparty | BC Hydro and IESO |
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