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Lighthouse Infrastructure completes $61m key-worker housing acquisition and financing
Independent, sustainable infrastructure fund manager Lighthouse Infrastructure has been advised on its $61 million investment with St George Community Housing for the delivery of key-worker accommodation in western Sydney.
Jerome Doraisamy
Firm: Herbert Smith Freehills (Lighthouse Infrastructure)
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Deal: Lighthouse has undertaken a $61 million investment with St George Community Housing (SGCH), involving the acquisition of 76 new apartments in Parramatta and building on its previous loan of $59 million to SGCH that funded 85 dwellings for essential workers in the nearby suburb of Westmead.
As part of the key-worker accommodation model, HSF said in a statement, the new housing is designed for workers in the emergency services, health, education and related sectors, and rents will be charged at a maximum of 75 per cent of market rates to promote greater affordability for low- and medium-income earners.
Area: Infrastructure
Value: $61 million
Key players: The HSF team was led by partner Nicholas Carney, who was supported by solicitors Nicholas Gerovasilis and Stephanie Simm and partner Erin Wakelin.
The team worked closely, HSF said, with Lighthouse’s deal team, comprising managing directors Peter Johnston and James Hooper and associate director Penelope Laletas.
Deal significance: Mr Carney said: “We were thrilled to work with Lighthouse Infrastructure once again to deliver this latest investment in collaboration with SGCH.
“Lighthouse’s previous investment in Westmead, also with SGCH, has proven that this innovative funding model is sustainable and scalable, delivering positive returns and increasing access to affordable housing for essential workers.”
