Int'l Public Partnerships to take over German government office project

27th Jan 2014 07:47

Infrastructure investment firm International Public Partnerships (IPP) has snapped up a majority stake in a project that will build the new office building of the Federal German Ministry of Education and Research in Berlin.IPP is paying €11.9m for a 97% equity interest and 100% of the subordinated debt of the public private partnership (PPP) project. It will be acquired from IPP's own investment advisor, Amber Infrastructure.Construction of the building started in August 2011 and is expected to complete in July this year.The offices, which will house the Ministry responsible for educational policy and student loans in Germany, will provide space for 1,000 employees.IPP said that the investment underlines its ability "to access a diverse pipeline of international investment opportunities rather than through those that are 'pre-owned' or acquired through the secondary market".BC