Harrison Street鈥檚 social infrastructure fund has acquired a US district energy system from BlackRock.
The manager鈥檚 Social Infrastructure Fund (SIF) has paid an undisclosed sum to buy BlackRock鈥檚 Global Energy & Power Infrastructure Fund鈥檚 (GEPIF) interest in The Fort Detrick Energy Production Facility at US Army Garrison in Maryland.
The facility supplies steam, chilled water, electricity conditioning services and emergency backup power to US government facilities located at Fort Detrick under a 30-year fixed payment contract that expires in March 2049.
Christopher Merrill, Harrison Street鈥檚 co-founder, chairman and CEO, said this asset, Harrison Street鈥檚 first with a Federal Government contract counterparty, is reflective of the company鈥檚 commitment to investing in critical infrastructure assets.
鈥淗arrison Street has long served as a top capital provider for leading health systems and higher education institutions and we are thrilled to be bringing our infrastructure investing expertise to the greater Fort Detrick community.鈥�
Since 2018, SIF has committed approximately $530m in equity across 16 assets, including investments in wind, solar and hydroelectric power, innovation districts, sustainable buildings and district energy.
The acquisition of the Fort Detrick Energy Production Facility marks the second investment in district energy for SIF, following its acquisition in 2019 of CoolCo, a Cincinnati based district energy system which provides chilled water services to the Central Business District of downtown Cincinnati, Ohio.
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