B&P advises consortium on İkitelli Integrated Health Campus PPP Project

Bezen & Partners (B&P) has advised the sponsors’ group consisting of a Japanese and Turkish consortium on the US$ 1.456 billion financing of the İkitelli Integrated Health Campus PPP Project, together with Willkie Farr & Gallagher LLP, which has received Europe’s “PPP Deal of the Year” award by Project Finance International (PFI).

The İkitelli Integrated Health Campus PPP Project, which is part of Turkey’s EUR 12 billion healthcare PPP programme, covers a total area of 790 thousand m2 in Başakşehir, a district of Istanbul in the northwest of Turkey.Upon completion, which is expected in 2018, the centre will be the 3rd largest PPP healthcare facility in Turkey - accommodating 2,682 patients and providing state-of-the-art security and rehabilitation services. The centre consists of a 2,330 bed Main Hospital, a 152-bed Psychiatric Hospital and a 200-bed Physical Therapy and Rehabilitation Hospital. The main hospital building will be equipped with 2,040 seismic isolators, making it the “World’s Largest Seismically Isolated Building” when completed.

The consortium was advised by a cross-practice B&P team led by senior partner Yeşim Bezen (Finance, Infrastructure), partner Banu Aslan (Finance, Infrastructure) together with associates Elif Soyel (Finance) and Yasemin Keskin (Finance).

Banu Aslan commented that the deal was the first PPP implemented with Japanese funders, making this project the first Japanese healthcare project financing in Turkey. It also represents the third award-winning PPP in recent years on which B&P has been the legal advisor to the consortium or its financiers.

B&P has built a reputation as an expert advisor on PPPs, recently acting on a number of winning bids including the Integrated Health Campus PPP in Adana, Integrated Health Campus PPP in Elazığ, Integrated Health Campus PPP in Yozgat and Integrated Health Campus PPP in Bursa.