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Lighthouse Infrastructure finalises worker housing investment
Global law firm Herbert Smith Freehills has advised Lighthouse Infrastructure on a key investment with St George Community Housing.
Emma Musgrave
Firm: Herbert Smith Freehills (Lighthouse Infrastructure)
Value: $61 million
Area: Finance
Key players: The Herbert Smith Freehills team was led by partner Nicholas Carney, with the support of solicitors Nicholas Gerovasilis and Stephanie Simm, and partner Erin Wakelin.
The team worked closely with Lighthouse’s deal team, which included managing directors Peter Johnston and James Hooper; and Penelope Laletas.
Deal significance: Lighthouse Infrastructure is an independent, sustainable infrastructure fund manager based in Melbourne that specialises in the unlisted renewable energy and social infrastructure sectors.
“Its new investment involves the acquisition of 76 new apartments in Parramatta and builds on its previous loan of $59 million to SGCH that funded 85 dwellings for essential workers in the nearby suburb of Westmead. Herbert Smith Freehills also advised Lighthouse on the Westmead investment,” a statement from the firm said.
“As part of the key-worker accommodation model, 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.”
Commenting further, Herbert Smith Freehills’ Nicholas 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.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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