Infratil Ltd announced a strategic review yesterday of its investment in the student accommodation concession granted by the Australian National University, based in Canberra.
Infratil said the Australian National University portfolio was the standout portfolio in the on-campus purpose-built student accommodation sector in Australia, in terms of both scale & quality. When Infratil invested in the portfolio in 2016, it expected the sector would provide a broader platform opportunity, with the Australian National University as its cornerstone investment, but those investment opportunities hadn’t eventuated.
“Accordingly, Infratil will engage with market participants over the coming months to consider proposals for its investment, which may include sale or other options,” the company said in a release. “The strategic review will assess all options with a view to maximising value for all stakeholders. It is expected that this process will be concluded within 6 months.”
In 2016, the university awarded Infratil & the Commonwealth Superannuation Corp a 30-year concession for the net rental revenue from 9 on-campus purpose-built student accommodation residences.
5 August 2016: Infratil enters student residence deal in Canberra
Attribution: Company release.