IRET, one of Belgium’s major real estate development companies, has reached financial closure on  the public private partnership project for the new headquarters building of the Antwerp Police Department. 

Monard Law advised BNP Paribas Fortis, Belfius Bank and KBC Bank as lenders in the project financing. Belfius (50%), BNP Paribas (25%), and KBC (25%) provided around €112.5 million (US$132 milllion).

The project involves the design, building, financing, maintenance and operation (DBFMO) of the new police headquarters building along the Antwerp ring road. The project will be developed by IRET,

The estimated investment for the project is €125 million (US$146 million). 

Belgium’s largest PPP transaction of the year, achieved financial close on 14 November 2017.