Allens has advised global investment manager InfraRed Capital Partners (Australia) Pty Ltd (InfraRed) on the Greater Curtin Stage One development, which reached financial close yesterday.
Procurement for Stage One began in 2016 and is the cornerstone in the delivery of Curtin University’s campus strategy.
Lead Partner David Donnelly said that Stage One represents a shift from a traditional university campus paradigm to a multipurpose destination mindset.
‘It’s a true precinct deal and a complex one, involving new and existing student accommodation, a hotel, self-contained apartments, industry partner spaces, retail, parking and public open spaces. The project will create much of the infrastructure and culture upon which the Greater Curtin vision will be built,’ he said.
‘Tertiary education is key export for our economy, and student accommodation is becoming increasingly recognised as an investment-grade asset class among institutional investors. We were therefore delighted to advise Infrared on this complex project.’
Challenging the traditional concept of a university campus makes the project inherently complex and requires input from multiple stakeholders.
‘We mobilised a team of more than 60 lawyers, including nine Partners, across a range of practices with sector expertise to bring this deal together,’ he said.
The deal builds upon Allens’ extensive experience in student accommodation and first-to-market privately financed infrastructure projects.