Equitix Acquires a Portfolio of Three UK PFI Assets from London & Regional Properties
Equitix has completed on the acquisition of 100% equity and subordinated debt interests in a portfolio of three UK PFI and core infrastructure assets from London & Regional Properties.The assets that have been acquired as part of the portfolio are:- Howden House, Sheffield City Council Offices PFI
- The Copeland Centre, Copeland Borough Council Offices PFI
- Newbury College Pathfinder PFI
The Howden House PFI project consists of a 30-year concession to provide local government office accommodation facilities for Sheffield City Council, with Financial Close having been reached in 1999 and the project commencing operations in 2001.
Similarly, the Copeland Centre situated in Whitehaven, Cumbria, comprises a 25-year concession to provide local government office accommodation facilities for Copeland Borough Council, with FC being reached in 2002 and operations commencing in 2004.
Newbury College is one of the early 'Pathfinder' PFI education projects that reached FC in 2001 and comprises of a wide array of facilities and resources to assist with the delivery of a variety of training programmes with approximately 1000 courses offered including GCSEs, A Levels, NVQs, Apprenticeships and Foundation Degrees.
Geoff Jackson, Chief Executive Officer of Equitix, commenting on the acquisition, said:"The successful acquisition of this high-quality portfolio of PFI assets further demonstrates our continued appetite for investment into the UK social infrastructure market. Whilst we continue to diversify the Equitix portfolio, investment into the UK social infrastructure sector remains very much a cornerstone of the business and as such I am delighted to be able to report on the completion of this transaction".
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