€13.8 million loan to finance the acquisition of a residential project of 89 units in Amsterdam.
PolarReal has assisted BLVG Ontwikkeling in arranging financing for the acquisition of their Hubstudio location in Amsterdam Oost. Hubstudios has been leasing and operating this project for several years already and an opportunity has now opened to acquire the asset from their landlord. The project has been fully refurbished by Hubstudios in 2017 and include 89 residential units plus a gym and a restaurant and has an energy label A. Unit sizes are typically between 17 – 45m2 and specifically address a market segment that is facing shortage in Amsterdam.
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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