Industry superannuation fund-owned private markets manager IFM Investors (IFM) announced that, on behalf of IFM’s managed funds, it has agreed to acquire a 100% interest in the Curtin University Student Accommodation project (the Project) from InfraRed Capital Partners (InfraRed).  

Infranexus, a special-purpose vehicle (SPV) management firm wholly owned by funds managed by IFM, will manage the Project. This strategic acquisition marks a significant expansion of IFM’s footprint in Western Australia, where Infranexus has successfully managed the concession for the District Court of Western Australia in Perth since 2008, and adds a new sector to its platform. The Project comprises ongoing management of existing student accommodation as well as the mixed-use precinct (known as Curtin Exchange) that includes student and private accommodation, a hotel, commercial space and retail facilities. The Project also includes avenues for future expansion to meet demand for high-quality, on-campus student housing. 

In June 2019, Live-in Learning (an SPV wholly owned by an InfraRed managed fund) entered into a 35-year concession through to 2054 with Curtin University to develop, operate, maintain and finance the Project which is located in the heart of Curtin’s Perth Campus in Bentley, Western Australia. The new student accommodation developed as part of Curtin Exchange became operational in January 2022.