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Wed January 26 2022

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BAM team reaches financial close on €520m German hospital

30 Sep 14 BAM and its partners have reached financial close on a major hospital project in Germany to be carried out under a public-private partnership.

BAM (50%) and VAMED (50%) are responsible for planning, new construction and renovation work for the University Hospital Schleswig-Holstein (UKSH), which is one of Europe’s largest centres for medical care.

The total costs for construction and renovation amount to €520m (£406m), with 75% of the project finance debt provided by UKSH as milestone payments. The consortium partners and commercial funders will provide the remaining 25% as equity and long-term funding.  

Construction will begin early next year for completion in 2021. The operational phase will include hard facilities management and technical management services and will run until 2044.

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