Financing the construction of the highly sustainable The CubeCorporate News -
We are pleased to announce that NIBC - together with a second partner in a club deal structure - supports International Campus Group (IC) in providing a construction and investment facility. We were also able to deliver a hedging solution for IC. With this facility NIBC finances the construction of a student housing project in Utrecht, named The Cube. The Cube is designed for students and offers 639 units. The sustainability aspect is very high; there are numerous solar panels on the roof, LED lightning and the use of sustainable construction materials. All apartments are fully furnished, equipped with a bathroom and a kitchenette - the move in process is therefore very easy for students from all over the world. With this project we are confident to take off pressure from the currently overheated Utrecht student housing market.
IC is a well-known client to NIBC as we have completed four transactions with the group over the last three years. Together with their majority shareholder and investor Brookfield Asset Management, IC is planning to expand its portfolio not only in the Netherlands, but also in Germany, Austria, and Czech Republic.