NIBC helps financing 3000 build-to-rent homes in Greater London
News Release - 23 Dec 2022, 08:00 CET
NIBC is expanding its Dutch commercial real estate business to the UK, with a focus on the operational living sector
Together with AIB, NatWest and Bank Leumi, NIBC provided financing to EQT Exeter and Sigma Joint Venture to realise their ambition of creating 3,000 new build to rent homes in Greater London. These homes will be professionally managed by Sigma’s Simple Life platform and are well located close to vibrant communities, transport links and other amenities. This financing is a step towards meeting the growing demand for new high quality and sustainable residential accommodation in the Greater London area.
NIBC recently expanded its Dutch commercial real estate business to the UK, to offer construction financing for Purpose Built Student Accommodation (PBSA), Co-living projects and Build to Rent (BTR) housing.
Jan Willem van Roggen, Head of Infrastructure & CRE at NIBC Bank: “We are very pleased to be able to make a positive impact on the growing demand for this type of residential accommodations by providing financing. With the recent expansion of NIBCs Dutch commercial real estate business to the UK, we are open for business to finance assets, and to discuss opportunities within the operational living sector.”
Peter Shacalis, Managing Director at EQT Exeter, said: “EQT Exeter is very pleased to have secured further funding which will help us to build affordable rental homes in London. We are delighted with our financing solution, which was designed to be scalable and help us to achieve our longer-term business plan and strategy.”
Graham Barnet, CEO of Sigma Capital Group stated: “NIBC recognises the significant need for new rental homes in Greater London. We are delighted to have NIBC backing together with the other lenders as we continue to expand our model of high-quality, professionally-managed rental homes that are within the means of ordinary renters.”