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Client Case 20 May 2025, 10:00 CEST

Transformation from Office Park to a Vibrant Neighbourhood in Amsterdam Southeast

In the rapidly evolving Amstel III area of Amsterdam, a significant transformation is taking place where residential, commercial, and recreational activities seamlessly blend.

Once an office park, this location is being revitalised into a diverse and vibrant neighbourhood, just 20 minutes from the city centre. This mixed-use development, situated at the corner of Hessenbergweg and Hondsrugweg, establishes a new benchmark for urban living.

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The Project

Green Tea Properties, in collaboration with OZ Architects, has spearheaded the redevelopment of an existing office building, of which Greystar has acquired a striking 23-storey residential tower, featuring 146 units, including 40 mid-market and 60 free-market apartments, with options ranging from 1 to 3 bedrooms.

Designed to achieve an A+++ energy rating, the building offers exceptional wall and floor finishes.

Beyond residential amenities, the project provides 316 m² of commercial floor space and 267 m² of facilities. The complex will share a 650 m² rooftop terrace with the adjacent social rental housing block. Additionally, 50 underground parking spaces are available, and a daycare centre will be located on the ground floor.

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Financing by NIBC

For this innovative project NIBC has provided construction financing.

Anne Wiersma, Managing Director Investment Management at Greystar, comments: "We chose NIBC as our financier because of their reliability, commercial and entrepreneurial approach, and flexibility - vital qualities in the challenging housing development market. Our collaboration with NIBC has been outstanding, thanks to their compact team of ambitious professionals, resulting in a pragmatic approach and quick turnaround times.

What distinguishes NIBC from other financiers is their flexibility and their entrepreneurial spirit; they genuinely consider our specific needs and focus on opportunities to serve us effectively."

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Sustainability and location

The development is notably sustainable, featuring a shared aquifer thermal energy storage system with neighbouring projects for optimal resource efficiency.

Located in Amsterdam Southeast, the city’s largest and fastest-growing development region known as Amstel III, the area boasts excellent connectivity. It’s just a 20-minute metro ride to the financial district and 30 minutes to the international airport and Amsterdam Central Station.

Over the next five years, approximately 5,000 new apartments are anticipated, alongside commercial and office developments. Investments in public spaces will facilitate the creation of parks and sports facilities.

At NIBC, we are proud to contribute to this transformation and eagerly anticipate the continued growth and development of this dynamic neighbourhood.

We chose NIBC as our financier because of their reliability, commercial and entrepreneurial approach, and flexibility - vital qualities in the challenging housing development market.
Anne Wiersma, Managing Director Investment Management at Greystar
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