| Asset Type | Social Infrastructure (Personal Care Home Portfolio) |
| Status | Operational |
| Asset Description | 90% interest in a portfolio comprised of seven personal care facilities representing 449 rooms. Kirby Group, the largest operator in Newfoundland & Labrador, is the operator and owns the balance of the ownership interests in the portfolio. |
| Asset Revenues | Personal 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 as determined by a Regional Health Authority conducted financial assessment of incoming residents. |
| Counterparty | Regional Health Authorities (agencies of the provincial government) |
| Asset Type | Energy Infrastructure |
| Status | Operational (COD between October 2014 and October 2015) |
| Asset Description | Three run-of-river hydroelectric facilities located near the Iskut River watershed in Northwestern British Columbia with a total installed capacity of 303 MW. |
| Asset Revenues | 100% of power produced is sold to BC Hydro under a fully inflation-indexed 60-year Power Purchase Agreement (PPA). |
| Counterparty | BC Hydro (rated Aaa by Moody’s, AAA by S&P, and AA (high) by DBRS) |
| PPA Expiry | Between October 2074 and October 2075 (60 years following COD) |
| Asset Type | Social Infrastructure (Student Housing) |
| Status | Under Construction (Commercial Operations in 2023) |
| Asset Description | Mass Ave Housing Partners is a concession from the University of Massachusetts Amherst to construct and operate on-campus undergraduate and graduate student housing facility . The undergraduate facility will feature 253 apartments with a total of 623 beds and the graduate facility will feature 140 apartments with a total of 201 beds. Construction of the undergraduate and graduate facilities is expected to be completed by the ends of August 2023 and November 2023, respectively. The facility will be operated pursuant to a concession agreement with the University for a 65-year term. The Project Company has the authority to set rental rate and operating budgets, and will retain a third-party property manager responsible for maintenance of the property as well as unit leasing and rent collection. |
| Asset Revenues | Rental revenue is collected from students every month. Approximately 3% of rental revenues will be paid to the property manager as a management fee. |
| Counterparty | University of Massachusetts (S&P: AA- / Moody’s: Aa2 / Fitch AA) |
| Contract Expiry | Concession with the University expires after 65 years. |
