Acting as the lender's technical advisor on this public-private-partnership project.
We are providing advisory services on the construction of new police headquarters in Südosthessen, Offenbach, Germany, that will accommodate over 900 police officers.
- Date started:
- Completion date:
- Client type:
- Real estate
- Main services:
The real estate company of the federal state of Hesse (LBIH) awarded the property acquisition, planning, financing, construction and operation of the new Police Headquarters Südosthessen (PPSOH) in Offenbach within the scope of a public private partnership (PPP) to a private company (Goldbeck Public Partner GmbH).
The new construction of the police headquarters is designed for more than 900 police officers on a total gross area of approx. 48,400m². The building should be ready for occupancy in 2021.
The SPV and outside lender us to act as a Lender’s Technical Advisor with:
- Provision of technical due diligence services as were required for the award and successful financial closing of the project. The elements of the work included feasibility of the design, approval issues, plausibility of construction costs and scheduling taking into account the special project structure, operations and asset management, analysis of operation costs, malus system and payment mechanism, risk assessment, pass down of tasks of the main contract to the subcontracts (back-to-back principle).
- Provision of regular reports during the design and construction phase to control the design & build contractor (building and engineering services) with regards to costs, schedule, functionality, quality, assess design and construction progress including detailed target vs. actual comparison, participation in systems start-up and hand-over in connection with on-site visits and continuous reporting to identify risks early and to recommend risk mitigation measures.
- Provision of bi-annually reports during the operational phase which will aim to draw the attention of the SPV and outside lender to any situation that could have a material adverse effect on the provision of services by the SPV and, in particular, by the subcontractor for facility management to the contracting authority.
Making the difference
We will be commenting on the condition of the facilities, adherence to identified lifecycle costs budgeted, facilities management performance, damages and vandalism as well as on the functioning of the payment mechanism, including deductions and reasons for them and on the operational budget.