Australian fund, QIC Private Capital, has seen lower than predicted parking revenues from its three-year-old concession at Ohio State University, largely due to a shift to a semester system from a quarterly academic schedule. The result is a return of less than 8%, according to a briefing given to a state P3 office this month. Queensland’s investment fund paid $483 million for 50-year lease of OSU’s parking system in 2012. Annual parking rate increases are capped at 5.5% for the first 10 yrs; then the greater of 4% or CPI for the remaining term.
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