€12.2 million loan to finance an A+++ Energy Label residential development of 89 units in Amsterdam.
PolarReal has assisted BLVG Ontwikkeling in arranging financing for the development and subsequent investment period of the 4th Hubstudio location in Amsterdam. This waterside project located at Hoogte Kadijk in Amsterdam Oost will have a total area of c.a. 3,200m2 and will include 89 residential units, all with energy label A+++. Unit sizes of 22 – 45m2 specifically address a market segment that is facing shortage in Amsterdam. Construction is expected to be completed mid 2025.
BLVG and it’s development management arm BLVG Ontwikkeling BV (www.blvg.nl) form a well-known Amsterdam based real estate developer active since 2006 in various seectors and focused on locations in or close to Amsterdam.
Attractive development and investment loan recognising unique added values of project
Working with Rabobank, we were able to structure a financing that recognises the highly attractive sustainability parameters and the fact that the project addresses key areas of housing shortage in Amsterdam.
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