July 3, 2020, Vancouver, BC – Concert Infrastructure is pleased to announce the acquisition of its partner Bird Capital Limited’s 20% interest in the P3 concessions responsible for 18 schools and nine childcare facilities in Saskatchewan. Developed as the Saskatchewan Joint-Use Schools Project I (SJUSP I) and Saskatchewan Joint-Use Schools Project II (SJUSP II), the projects made up the largest school construction program in the history of the province at the time of construction.
Concert Infrastructure now wholly owns each of the Project Companies. With the direct and dedicated support of Concert Infrastructure under the existing Management Services Agreement, Johnson Controls remains the day-to-day facilities management service provider. This acquisition further supports Concert Infrastructure’s strategy of investing in primary and acquiring secondary infrastructure assets as well as managing these assets through the term of their concession.
SJUSP I and SJUSP II are two groups of joint-use schools in Regina, Saskatoon, Warman and Martensville, that comprise 18 schools and nine childcare facilities, on nine sites. Concert Infrastructure and Bird Construction delivered over 1.3 million square feet of new space, accommodating 11,100 pre-kindergarten to grade eight students, and 810 toddlers and infants.
All 18 schools were completed on-time and on-budget in under two years, under a design-build-finance-maintain agreement with the Government of Saskatchewan and Saskatchewan Ministry of Education. The schools are environmentally-sustainable infrastructure projects with four joint-use schools achieving LEED Silver certification and five joint-use schools achieving LEED Gold certification. The two SJUSP were the recipient of a Silver Award for Innovative Partnership from The Canadian Council for Public-Private Partnerships in 2015.
“Acquiring Bird’s interest in the two Saskatchewan Schools projects demonstrates Concert Infrastructure’s investment and management commitment, from procurement, development, construction and through the concession period, to the Government of Saskatchewan,” says Derron Bain, Concert Infrastructure’s Managing Director. “We are excited to be a long term partner to the Province and continue to represent the interest of our Canadian union and management pension plan unitholders as a reputable long-term community investor and builder.”
About Concert Infrastructure
Concert Infrastructure is an independent, long-term investor, developer and manager of public infrastructure, and has been successful in forming strong strategic partnerships and securing solid investment opportunities for its pension plan investors. Concert Infrastructure approaches each project with the intention of remaining a partner for the duration of the project, valuing long-term, stable returns for our ten Canadian union and management pension fund shareholders. Concert Infrastructure invests Canadian dollars in Canadian projects that span four provinces and territories. Over 80% of our facilities meet the LEED Gold or Silver sustainable building standard. See www.concertinfrastructure.com for more.
Derron Bain, Managing Director
DBain@ConcertInfrastructure.com | 647.789.2066