AMP Capital infrastructure funds have jointly secured a student housing asset in Australia’s capital for A$112m (€72m).
The AMP Capital Diversified Infrastructure Trust (ADIT) and the AMP Capital Core Infrastructure Fund have bought the 731-bed student accommodation expansion at the Australian National University (ANU) in Canberra.
The acquisition brings AMP Capital’s total portfolio of on-campus beds at ANU to 4,915. AMP Capital is Australia’s largest investor in on-campus student accommodation, with 2,131 beds at the University of Melbourne and the University of Sydney.
ADIT managing director Brad Williams said: “This new bed expansion provides high-quality on-campus facilities that will support the ANU’s continued growth as Australia’s leading university.”
The transaction was completed with a simultaneous debt refinancing of the existing portfolio via new debt facilities worth about A$575m with a range of Australian and international banks.
To read the latest edition of the latest IPE Real Assets magazine click here.