The consortium New Amsterdam Court House (NACH) achieved the Financial Close for the DBFMO contract signed on 25 May 2016 for the construction and operation of the Rechtbank Amsterdam courthouse PPP project.

This finalizes the financing for the project, which has a net present value of €235 million (US$260 million) including a 30-year management and maintenance contract.

As we reported in April, Rijksvastgoedbedrijf, the Dutch Central Government Real Estate Agency selected the consortium of Macquarie, Heijmans and Facilicom to develop the New Amsterdam Court House (NACH) PPP project.

Lenders include Mitsubishi UFJ Financial Group (MUFG), Nederlandse Waterschapsbank N.V. (NWB Bank), Sumitomo Mitsui Banking Corporation (SMBC) and MEAG.

The debt package comprises a €75 million (US$83 million) construction bridge facility to be replaced by an operational term loan from MEAG; an €80 million (US$ 88 million) milestone bridge facility; an equity bridge facility; and a debt service reserve facilities.

Construction of the Amsterdam Court House will commence in August 2017 and the building will be commissioned in 2020.

The NACH consortium is a partnership between Macquarie Capital, Heijmans, Facilicom, ABT, DVP, KAAN Architecten, BiUM and Bouwbedrijf M.J. de Nijs & Zonen. The consortium has appointed Macquarie Capital Europe Limited as Financial Advisor.