The £20m Hertfordshire Childrens Homes and Family Support Centre PFI Project reached financial close today.
The project involves the construction of nine new Children’s homes and the upgrade of five Family Support Centres within Hertfordshire, in addition, related facilities management services and equipment provision will be provided at each of the facilities.
The consortium, known as Young Herts, comprises two shareholders, Geoffrey Osborne Limited and UME Investments, and was established solely to deliver the Hertfordshire PFI project. The facilities management delivery partner is Community Building Services, part of the William Sutton Housing Group. Sumitomo Mitsui Banking Corporation will provide senior debt funding.
Operis was appointed by Sumitomo Mitsui Banking Corporation to provide financial model due diligence services.