NIBC Bank has successfully closed a development financing for Schonenvaert B.V

We are pleased to announce that NIBC Bank has successfully closed a development financing for Schonenvaert B.V., which is a joint venture between our existing and reputable client Egeria Real Estate Development and New Cheese Development. The purpose of the facility is to (re)finance the acquisition and preparation costs of the redevelopment of an existing office building into a modern, high-quality residential complex with approximately 600 apartments aimed at students and young professionals (social housing, middle segment and liberal sector rent), commercial space and parking spaces. The project, designed by OZ Architects, has an attractive location in the popular city of Haarlem, directly south of the city center. The redevelopment project is a successful co-operation between the municipality and Schonenvaert B.V. NIBC Bank is happy to have closed the third consecutive transaction with Egeria for comparable redevelopments and to contribute to the replacement of redundant, outdated office space by sustainable, highly demanded rental apartments.