Construction financing for a 150-unit apartment complex in Zoetermeer
On behalf of Bakkers|Hommen, Asset Partners managed the financing process for the construction of the Sea Tower project in Zoetermeer.
Background
In 2018, Bakkers|Hommen acquired a site in downtown Zoetermeer with the intention of demolishing an existing office building and replacing it with a new residential complex. The project, known as Sea Tower, consists of a 23-story residential tower with 150 affordable and mid-range rental apartments. To carry out the project, the client sought construction financing, potentially followed by investment financing upon completion.
Asset Partners organized a tender process among a diverse group of national and international financiers. By highlighting the quality of the project, its prime location in the center of Zoetermeer, and Bakkers|Hommen’s proven track record, the firm received several competitive financing proposals. Ultimately, it was decided to secure financing from Rabobank, the client’s existing lender, which—based on the competitive process—was willing to offer favorable terms and meet the financing needs.
Result
- Competitive process involving domestic and foreign investors
- Favorable financing terms with an existing lender
- Substantially lower cost of capital
Leading the Way
The right financing requires more than a good plan. We take the lead at every stage of the process, from analysis through closing. Accessible and responsive, analytically rigorous, fully independent and always focused on results.