Allens has advised global investment manager InfraRed Capital Partners (Australia) Pty Ltd (InfraRed) on the Greater Curtin Stage One development which reached financial close on 4 June 2019.
Procurement for Stage One began in 2016 and is a cornerstone in the delivery of Curtin University's new Exchange precinct, a transformative hub that delivers genuine mixed-use development to serve as a catalyst for innovation for students, industry and the broader community.
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.
Allens legal team
Projects & Development
David Donnelly (Partner), Nigel Papi (Partner), Tristan Iredell (Managing Associate), Daniel Abadee (Associate) and Kate Fitzsimons (Lawyer).
Banking & Finance
Scott McCoy (Partner), Steven Faulkner (Senior Associate), Maria Ryan (Overseas Practitioner), Saurabh Narain (Lawyer) and Jo Ye (Lawyer).
Ends
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.