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 (long-term care facilities) |
Status | Operational |
Asset Description | 85% interest in 31 facilities representing 4,718 beds located in Ontario and Manitoba. Extendicare is the operator and owns the balance of the equity ownership interest in the portfolio. |
Asset Revenues | LTC facilities are licensed, regulated and funded by the provincial governments. The provincial governments subsidize the care, programs, supplies and accommodation costs of the residents, who are also typically subject to a co-payment. The funding rates paid by the government and the residents to the operators are generally set on an annual basis and differ by province. |
Counterparty | Provincial health ministries or regional agencies for the provinces of Ontario and Manitoba. |
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 | Transportation infrastructure |
Status | Operational |
Asset Description | Highway 407 is the world’s first all-electronic, open-access toll highway, stretching 108 kilometers from the west to the east of the Greater Toronto Area. The highway forms part of the 400-series highways, serving as a bypass of Highway 401 and a major east-west corridor across the suburbs to the north of the city. |
Asset Revenues | 100% toll-based (all-electronic tolling) |
Concession Expiry | 2098 (concession term: 99 years) |
Project Website | For more information visit: www.407etr.com |