Ashurst has advised the University of Tasmania (UTAS) on its innovative partnership to grant a 30-year licence for 10 of the University’s 14 purpose-built accommodation properties to The Spark Living Consortium.
The consortium, which includes DIF and Tetris Capital, has paid an undisclosed amount in return for the future rental revenue of the 14 facilities across the State, totalling 1,800 beds. Spark Living also became the asset manager of the facilities when the deal was finalised in December 2017.
The proceeds from the transaction will allow UTAS to further invest in its core business of research, teaching, the overall student experience and its ongoing projects to transform Tasmania through the integration of its campuses with our cities in which they are located.
The Ashurst team was led by partner Harvey Weaver (picture) and counsel Melinda Harris assisted by partner Richard Guit, senior associate Meredith Riley, lawyers Tristan Aguirre and Brian So with graduates Anna-Lisa Doumani and William Keen (Infrastructure); partner Murray Wheater and senior associate Samantha Robson (Corporate); partners Simon Irvine and Matthew Bubb, counsel Trent Chugg and lawyers Anthony Pitruzzello with James Szauer (Finance); partner Michael Ryland and senior associate Jonathan Scott (Funds); counsel Julia Sutherland (Employment); partner Rehana Box (Insurance); with lawyer Beth Waterfall (Disputes).
Flagstaff Partners were financial advisers to UTAS.
Involved fees earner: Harvey Weaver – Ashurst; Melinda Harris – Ashurst; Richard Guit – Ashurst; Meredith Riley – Ashurst; Tristan Aguirre – Ashurst; Brian So – Ashurst; Anna-Lisa Doumani – Ashurst; William Keen – Ashurst; Murray Wheater – Ashurst; Samantha Robson – Ashurst; Simon Irvine – Ashurst; Matthew Bubb – Ashurst; Trent Chugg – Ashurst; Anthony Pitruzzello – Ashurst; James Szauer – Ashurst; Rehana Box – Ashurst; Michael Ryland – Ashurst; Jonathan Scott – Ashurst; Julia Sutherland – Ashurst; Beth Waterfall – Ashurst;
Law Firms: Ashurst;
Clients: University of Tasmania (UTAS);