Divestment of Federal German PPP in Berlin to INPP
Amber Infrastructure (“Amber”) is pleased to advised that it has divested its interest in the PPP project that will deliver the new office building of the Federal German Ministry of Education and Research in Berlin (“BMBF Project”) to International Public Partnerships (“INPP”).
Amber has been responsible for the development of the BMBF Project since August 2011, following a successful EU-wide tender process run by the Federal Bureau of Real Estate Projects (the German Government Agency for Real Estate) comprising planning, construction, facilities management and financing.
The new office building will comprise two connected buildings with a gross building area of c. 55,500 sqm. Upon completion, the building will provide space for around 1,000 employees and Amber will continue to provide Asset Management services to the project.
The construction on the BMBF Project, which started on 1 August 2011, is being delivered through a turnkey contract with BAM Deutschland AG, which retains a residual stake in the share capital of the project. The construction program is presently running to schedule and is expected to complete at the end of July 2014.
Further information about INPP’s investment in the project can be found here