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Breathing new life into west Haarlem

Plaza West Haarlem is a special purpose vehicle managed by Dutch property developer Han Kleinjan for the acquisition of five hectares of mixed-use land in Haarlem’s popular Leidsevaart neighbourhood, just five minutes from the historic city centre.

The land will be redeveloped to revitalise this part of the city, transforming it into a lively residential area with excellent retail facilities. The project involves renovating and upgrading an existing retail centre and building around 600 new rental homes in an adjacent undeveloped plot. In addition, a car park with space for about 900 vehicles will be built.

The assignment

We provided the developer with EUR 35 million in financing to acquire the land and the existing retail properties.

Adding value

Being involved at an early stage, we offered timely and professional advice on optimal financing structures and enabled our client to complete the purchase within their planned timeframe.

Delivering results

Plaza West Haarlem is set to deliver on its promise to create a highly attractive place to live and shop in an area where there is strong demand for rental accommodation.  Scheduled for completion in 2020, the project is a welcome addition for a part of the city that has been undeveloped for many years, and which the local municipality had been looking to revitalize. In NIBC we found a partner that actively worked with us to optimize the financing structure for this complex development. NIBC was also highly involved following the closing, assisting us in a very professional way and demonstrating that it is an entrepreneurial team player. - Han Kleinjan, developer Plaza West Haarlem
 

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