Revitalising on a large scale

Inspired by the many innovative living and working concepts he encountered while travelling for his work, Steven Zeeman started LIFE Europe, a company that identifies, acquires and develops underused areas in Europe, where sustainability and shared services play an important role.

Entrada is one of those beautiful redevelopments of LIFE Europe, an office campus in Amsterdam. The intention is to create a high-quality and lively area with an attractive and liveable living environment at this location.

The project follows sustainable government and housing regulations and has several sustainable elements, including energy-neutral homes.

Another important aspect in the project is the greenery. The surroundings are green and water-rich and cars will be kept out by realising underground parking facilities.

Entrada will soon offer accommodation to various target groups. There will be houses with a freehold title, for example, but also houses for the regulated rental market. All this together will create a lively and interesting area of high quality.

"There is enormous pressure on the housing market in Amsterdam. With the development of 1,000 homes, we are doing our bit to help."

Why NIBC?

Steven Zeeman: "We asked NIBC to finance Entrada because they are a party that understands project development and can grow with us in the project. We were looking for a financing partner who understands what it is like to go from office destination to reallocation, to demolition and construction, and NIBC is a very good partner in that".

"NIBC stands out from the competition because they understand a transformation project and the time and cash flow it requires. The financing is tuned to this to find a balance between the coupon you have to pay, the bit you have to pay at the end and also the timelines and bumps with the municipality and surroundings. So it's nice to have a financier who understands this and who can steer you in the right direction if necessary," Steven Zeeman continues.

"NIBC has people in house who often do development financing, so they understand what's going on and can respond to it. Besides the fact that NIBC's business model is to finance the entrepreneurial side, NIBC distinguishes itself by being able to handle the risk in projects."

"The team you are dealing with is decisive and resolute, so you can come to a term sheet quickly. There's a lot of expertise and knowledge about the project, they understand what it's all about, so you can quickly come to an agreement about the conditions under which you can take out a loan."

Steven Zeeman: "The intended result is that we will be able to start construction in three to four years' time and thus be able to repay the financing from NIBC."