BAM PPP reaches financial close on new parliament building for federal state of Brandenburg
2 September 2009 - BAM PPP has reached financial and contractual close on Brandenburg’s €120 million parliament building in Potsdam. BAM PPP is sponsoring the deal with its sister company BAM Deutschland as building contractor and sister company Müller-Altvatter Gebäudemanagement providing operational and maintenance services throughout the thirty year operational concession.
The project includes design, financing, maintenance and operating of the new building for the 88 members of parliament of the federal state of Brandenburg, which is currently located on Potsdam's Brauhausberg. The new 19,000 square meters parliament buildings will be erected in the heart of the city, on the foundations of the old city palace on the 'Old Marketplace' (Alter Markt), next to the Church of St. Nikolai and the Old Townhall. Architects are Peter Kulka Architecture, with offices in Dresden and Cologne.
The Potsdamer Stadtschloss (Potsdam City Palace) was the winter residence of the kings of Prussia. Originally built in 1669 it was rebuilt around 1750 by Frederick the Great, transforming it into one of the most important examples of baroque architecture. In April 1945 the City Palace was bombed and heavily damaged. The former East German authorities demolished the ruins in the 1960's.
BAM Deutschland will start construction work on site in the spring of 2010. The new parliament is due to open in January 2013.
The debt funding has been provided by Bayerische Landesbank, NIBC Bank and KFW IPEX-Bank.
BAM PPP invests in and manages PPP projects on behalf of Royal BAM Group. Currently BAM PPP has currently 28 PPP projects in its portfolio, 18 of which are operational. BAM PPP is active in the UK, the Netherlands, Belgium, Ireland and Germany in the education, health, law and order, road and rail PPP sectors. BAM PPP and BAM Deutschland are operating companies of Royal BAM Group, a worldwide construction services company turning over more than €8 billion and listed on Euronext Amsterdam.
Further information:
- Press: A.C. Pronk, 31 (0)30 659 86 21;
- Analysts: P. Snippe, 31 (0)30 659 87 07