InfraREIT is a real estate investment trust. The company leases its regulated assets to Sharyland Utilities, L.P. (Sharyland), a Texas-based regulated electric utility, pursuant to leases between Sharyland and its subsidiary, Sharyland Distribution & Transmission Services, L.L.C. Sharyland delivers electric service to other utilities and collects revenues through Public Utility Commission of Texas-approved rates. The company's regulated assets consist of transmission lines, substations, high-voltage DC Tie between Texas and Mexico and a transmission operations center.
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