Matheson advises lenders on Grangegorman DIT campus project



Peter O’Brien
Peter O’Brien

Matheson recently acted as Irish counsel for a syndicate of funders and lenders in connection with the financing of Dublin Institute of Technology’s (DIT) €220 million Grangegorman Campus PPP project.

The funders and lenders include Mitsubishi UFJ Financial Group (MUFG), the European Investment Bank, Sun Life Investment Managers and Talanx Asset Management.

The €220 million project is one of Ireland’s largest educational campus developments financed through a public private partnership (PPP).

The project will involve the construction of two flagship buildings, the Central Quad and East Quad, and together will cater for 10,000 students and 600 staff. Scheduled to be ready for occupation for the 2020/21 academic year, the development will provide state of the art facilities for the DIT Colleges of Sciences and Health, Arts and Tourism and for the School of Electrical and Electronic Engineering.

The Matheson team was led by Peter O’Brien and Garret Farrelly.

Mr O’Brien, partner in the banking and financial services department, said: “Matheson is delighted to be involved in what is a welcome investment in Ireland’s higher education infrastructure.

“This project illustrates that there remains a strong appetite for the funding of traditional PPP models and it will go a long way in helping to drive Ireland’s ambitions to provide the best education and training service in Europe.”

Mr Farrelly, partner and head of the energy and infrastructure group and projects group, said: “At Matheson, our multi-disciplinary and cross departmental Projects Group consistently work together on the largest and most complex infrastructure projects (including PPPs) in the Irish market. It is this collaborative approach that distinguishes us and provides us with the cutting edge in the marketplace.”