AMP Capital on behalf of investors in its AMP Capital Diversified Infrastructure Trust (ADIT) and AMP Capital Core Infrastructure Fund (CIF), has purchased the Australian National University’s student accommodation concession from investors managed by H.R.L. Morrison & Co. Subject to satisfaction of counterparty consents, completion of the transaction is expected to be in mid-April 2019.

The transaction is valued at over $700 million and includes a 34-year concession over 4,184 beds across ten existing residences on the Australian National University (ANU) campus in Canberra. The concession was originally established in 2016 and includes existing long-term outsourced facilities management arrangements while the ANU retains responsibility for operations.