Flinders University Health and Medical Research Building Project Partner
Bedford Park, SA
Tetris Capital achieved financial close on 25 November 2021 for the Flinders University Health and Medical Research Building Project Partner to finance the development of the University’s state of the art Health and Medical Research Building (‘HMRB’).
The University, as tenant, will pay rent to the project special purpose vehicle (SPV) under the building lease, and will be responsible for all operations, asset maintenance and facilities management of the building in a ‘triple-net’ form.
The building is presently more than 50 per cent through design development and will be delivered under a D&C contract with Hansen Yuncken which was established and will be delivered by the University’s project team.
Tetris Capital led the winning consortium acting as bid sponsor and financial advisor and will continue to provide SPV management services through the lease term. Arranged by Amber Infrastructure, International Infrastructure Partnerships Limited (INPP) are the sole equity investor with National Australia Bank Limited (NAB) acting as senior debt and hedging provider.
LOCATION
Bedford Park, South Australia
CLIENT
Flinders University
TOTAL VALUE
$255m
OUR ROLE
Financial Advisor
SPV / Asset Manager
BUILDER
Hansen Yuncken
FINANCIAL CLOSE
2021
COMPLETION DATE
2024
CONTRACT TYPE
Construction finance and lease-back