University of Tasmania Student Accommodation Portfolio
The University of Tasmania PBSA Portfolio (the ‘Portfolio’ or ‘Project’) is an operating portfolio of 2,069 student beds located across 10 properties in Hobart, Launceston and Burnie. The project is structured as a long-term concession with the right to all net revenue generated by the PBSA portfolio. Whilst the project remained resilient throughout the COVID-19 pandemic, the Portfolio’s project finance debt was due for refinance in a challenging market environment for PBSA assets.
Planum acted as financial advisor for the successful refinancing of the Portfolio’s project finance debt. The refinancing involved innovative structuring to provide flexibility to both the project and the lenders amid the uncertainty caused by the pandemic.