University of Tasmania - PBSA Transaction
157 Elizabeth Street, Hobart, Tasmania
Spark Living, a consortium of Tetris Capital, DIF Capital Partners and Programmed reached financial close on the UTAS PBSA Transaction in September 2017. The consortium will finance and maintain over 1,800 student accommodation beds over multiple sites throughout Tasmania.
Maintenance of the facilities will be completed by Programmed over the term of the 30 year concession with UTAS retaining all student accommodation operations functions through their student living team.
Tetris Capital advised DIF (on the long-term lease). In addition to the equity invested by DIF, the transaction was partly funded by an innovative debt package structured by Tetris Capital which was supported by Australian superannuation funds, amongst others. Tetris will be the asset manager for the duration of the 30 year concession.
The 1,800 beds are primarily located at, or near, the Hobart and Launceston campuses, with a small number at Burnie.
Our team is now working with UTAS to develop more student accommodation in Hobart.
Various Locations, Burnie, Hobart, Launceston, Tasmania
University of Tasmania
30 year concession until 2047
Finance and maintain