A group comprising Dutch-based DIF and Canada’s Axium Infrastructure have been selected preferred bidder for Ontario’s Etobicoke General Hospital Phase 1 Patient Tower project.
Concluding a process that started last May, the award will see the two firms partner with Chicago-headquartered developer Walsh Group and architects HDR Architecture Associates.
The consortium was part a trio of shortlisted teams that also included Canada’s EllisDon Capital on the one hand and Australia’s Plenary Group, allied with Denver-based PCL Investments, on the other.
The project is expected to reach both commercial and financial close in May. Its value, undisclosed for now, is expected to be announced after financial close is reached.
The Phase 1 Patient Tower Project involves the construction of a new four-storey wing. It will add about 250,000 square feet of space to the existing facility that will be used to house services including a larger emergency department, a maternal newborn unit and an ambulatory procedures section.
DIF will invest in the project through its €1.15 Fund IV. The news comes less than two weeks after the fund manager was selected preferred bidder for the Netherlands’ N18 road PPP and less than a month after it closed two deals that saw it become the majority shareholder in two Irish toll roads.
The announcement also comes one day after Fiera Capital, Axium’s former infrastructure joint venture partner, said it would acquire Toronto-based Aquila Infrastructure Management.