NIBC Bank Supports Greystar in Financing High-Quality Residential Complex in Amsterdam

NIBC Bank is pleased to announce its collaboration with Greystar to provide construction financing for a new high-quality residential complex in Amsterdam, spanning 9,800 square meters. This project marks the first collaboration between NIBC and Greystar in the Netherlands, following a successful financing for a residential real estate project in Madrid.

First Pile for 35,000 sqm Mixed-Use Development in Amstel III

In June 2024, the celebration of the first pile took place, of the 35,000 sqm mixed-use development located at Hessenbergweg 109-119 in Amsterdam Zuidoost.

The project comprises four building sections with a total area of more than 35,000 sqm, constructed on an underground parking garage. Located at the intersection of Hessenbergweg and the future Hondsrugpark in the Amstel III transformation area, the sustainable development features a WKO installation for the entire complex, an intended BREEAM-NL Excellent certification, and a green rooftop garden exclusively for residents of the 236 homes to be realized. Furthermore, the project includes a daycare center, an office of approximately 9,500 sqm, and a supermarket.

Greystar is investing in the high-rise residential tower with 59 mid-rent and 87 free-sector rental units, covering nearly 9,800 sqm. The daycare center, a large bicycle storage, and 50 parking spaces in the high-rise are also part of Greystar's investment. Heddes Bouw & Ontwikkeling is realizing the project.

Anne Wiersma, Senior Director Greystar: "We are pleased with the support of NIBC Bank in financing this project, which represents an important next step in our contribution to the development of Amstel III. This project perfectly aligns with our vision to provide modern, sustainable, and affordable housing for starters, young professionals, and young families, while continuing to contribute to the transformation of this vibrant urban district."

"We are excited to support Greystar with construction financing for their new residential complex in Amsterdam," says Kishan Binda, Director Commercial Real Estate at NIBC Bank. "This partnership underscores our commitment to providing tailored financing solutions that help our clients achieve their ambitions and contribute to the vibrant real estate landscape of Amsterdam."

About Greystar

Greystar is a leading, fully integrated global real estate company providing expertise in development, investment, management, and operation of high-quality rental housing, logistics real estate, and life sciences properties. Headquartered in Charleston, South Carolina, Greystar manages and operates over $300 billion of real estate across 249 markets from offices in North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing more than 893,600 units/beds worldwide, with a strong institutional investment management platform overseeing over $78 billion of assets under management, including nearly $35 billion in development assets. Founded by Bob Faith, Greystar has grown to provide premier services in the rental housing sector. For more information, visit www.greystar.com.