New Zealand infrastructure investment company, Infratil Ltd
(ASX:IFT) has acquired a 50% equity interest in the on-campus accommodation of the Australian National University (ANU).
Infratil, along with the Commonwealth Superannuation Corporation (CSC), will have a 30-year concession for the net rental revenue from nine on-campus student residences.
Infratil will pay $82.5 million for this equity, and expects the transaction to settle later this month.
Infratil and the CSC will be responsible for matters such as building maintenance and lifecycle replacement, while ANU will still be responsible for marketing and rental agreements.
Infratil reported a net profit of $446.4 million at 31 March 2016.
