DIF Infrastructure III has acquired an additional 10% shareholding in the availability based P3 Royal Jubilee Hospital project located in Victoria, British Columbia.
The shares are acquired from Lark Enterprises Ltd. DIF III increases its position to 50% following the earlier 40% acquisition in August 2013 from Acciona SA.
The project consists of a nine-storey, 42,000 m2 patient care center and services the city of Victoria and southern Vancouver Island. The 500 bed hospital provides patient services to medical and surgical patients and patients suffering from mental health and addiction issues. The financing is secured through a long term loan with a club of commercial banks.
The Royal Jubilee Hospital Patient Care Centre is a P3 partnership between private firms, the Vancouver Island Health Authority and the Province of British Columbia.
The project has an operational track record of almost 5 years and a remaining concession life of around 25 years.