Development Financing for The Ensemble
Great Grey Investments
Sole Financial AdviserKempen & Co acted as Sole Financial Adviser to Great Grey Investments in securing development financing provided by Cheyne Capital Management to finance part of The Ensemble: an ambitious, c.85,000 GFA m² mixed-use development in Amsterdam Southeast with best-in-class amenities, scheduled to be completed in 2025.
Transaction highlights
- Located on Karspeldreef 14-16 in Amsterdam Southeast, The Ensemble is a mixed-use development with two residential towers housing close to 600 apartments, c.3,200 m² of base plinth for amenities, six floors of office space (c.19,000 m²), as well as two large parking garages with ample space for (electric) cars and bicycles
- The Ensemble is a highly sustainable, A++++ label, BREEAM-excellent building; praised by the municipality of Amsterdam as the most sustainable mixed-use high-rise building in Amsterdam and one of the most sustainable residential buildings in the Netherlands
- Its high-rise design will comprise of two large, iconic towers (115m and 95m in height) characterized by their modern façade, interwoven base plinth, large outdoor spaces, and unique attention to multifunctional design
- The residential towers, which have been sold to Greystar Real Estate Partners, will contain a total of 592 rental apartments focused on the affordable housing segment
- The plinth will feature a ‘social’ component comprising a medical center with a pharmacy and a youth talent center with a theater
- The Ensemble features the largest office floors in Amsterdam with 3,600 LFA m2 each, specifically designed for flexibility, efficiency, cooperation and interaction
- Kempen & Co acted as sole financial adviser to Great Grey Investments in arranging the development financing for the office of The Ensemble
- Ewout Luykx of Great Grey Investments: “This development financing underscores the attractiveness of this high-quality, sustainable, social-inclusive, mixed-use development, in an area which has garnered both strong municipal support and interest from investors. Moreover, this transaction underpins that demand for prime commercial real estate in top-tier locations remains strong. Together with Kempen, we are happy to have selected Cheyne Capital Management as our funding partner for this project.”
- Guus de Haan, Executive Director Debt Advisory at Kempen & Co: “We congratulate both Great Grey Investments and Cheyne Capital Management with this landmark transaction, which marks the first real estate transaction for Cheyne in the Dutch market. We are delighted to have advised Great Grey Investments on this exciting project and look forward to seeing the project come to full fruition.”
About Great Grey Investments
- Great Grey Investments is a real estate developer and investor active in the Netherlands and Belgium since 2013. Great Grey Investments is delivering projects with an aggregated GAV of €1.5 billion, with a further pipeline of over 1,000,000 m2 GFA. Its focus is on large-scale urban developments in and around key cities in the Netherlands and Belgium
- The investment strategy centers around taking on positions at an early stage, where Great Grey Investments applies a macro-view with the aim to create value by optimizing the potential of a property
- Great Grey Investments leverages its knowledge of different asset classes such as offices, residential and industrial properties and data centers to develop innovative and highly sustainable properties
Kempen & Co's Real Estate credentials
- Kempen & Co has advised on more than €105bn real estate transactions across 15 different countries in Europe. Since 2020 to date, Kempen & Co advised on >110 transactions across different countries, representing a total deal value of >€30bn in a challenging and unprecedented pandemic environment
- This transaction marks the fourth Debt Advisory transaction this summer in European Real Estate as we continue to support our clients active in the sector
Contact
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Public offer for
Extension of Credit Facilities
Sale of existing shares via club deal
Development Financing for The Ensemble
Sale of
To
Convertible Bonds & Shareholder commitment
Sustainability Linked Unsecured Revolving Credit Facility
Directed share issue via club deal
Acquisition of Almere Centrum
Accelerated Bookbuild Offering
PIPE & Rights Issue
Rights Issue
Directed Share Issue to
Capital Increase & Spin-out
Global Accelerated Bookbuild Offering
to
Selling shareholder
Public takeover of
Non-listed equity capital raise of the Aquila Capital Southern European Logistics Fund
Sale of
Block Trade in Molecular Partners Shares
Real Estate Acquisition Financing
Undisclosed
by
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Initial Public Offering
US Public Offering
Placing
Capital Increase
US Public Offering
Sale to
Portfolio company of
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Mandatory Convertible Bond Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Capital increase
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
on Nasdaq
Initial Public Offering
Accelerated Bookbuild Offering
Initial Public Offering on Nasdaq
Initial Public Offering on Nasdaq
Accelerated Bookbuild Offering
Capital increase
Private Placement
US Public Offering
Initial Public Offering
US Public Offering
Accelerated Bookbuild Offering
Accelerated Bookbuild Offering
Initial Public Offering
Debt financing
US Public Offering
US Public Offering
Green Revolving Credit Facility
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Combination with
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Non-listed equity capital raising
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Private Placement of shares in
Bridge financing
Undisclosed
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Rights issue
Accelerated Bookbuild Offering
US Public Offering
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Merger with Arya Sciences Acquisition Corp. and subsequent Nasdaq listing
acquisition of
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Private Placement
Private Placement
Accelerated Bookbuild Offering
Global Accelerated Bookbuild Offering
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Sale of 456 unit landmark residential project in prime location The Hague
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public offer for
Sale and capital increase
and
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Global Offering
Accelerated Bookbuild Offering
Public takeover of
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to
Accelerated Bookbuild Offering
Capital increase
Global offering
Rights issue
Initial Public Offering on NASDAQ
Secondary placing of Fagron shares
Rights issue
a subsidiary of
Sale of German DIY portfolio to REDOS acting on behalf of Union Investment
Accelerated bookbuild offering
Accelerated Bookbuild Offering on behalf of selling shareholders in
Three-day bookbuild offering
Rights issue
Acquisition of
Initial Public Offering
Accelerated Bookbuild Offering
Block trade in argenx shares
a subsidiary of
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Sale of Dutch residential portfolio managed by
on behalf of investors to
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to
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Increase of stake in
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Acquisition of
Acquisition of
Acquisition of
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Block trade in ERYTECH shares
Initial public offering
Accelerated bookbuild offering
Initial public offering
Acquisition of
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US public offering
US public offering
Sale to
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Sale of Rabo Bouwfonds CIF datacenter portfolio
to
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Public offer for
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Accelerated bookbuild offering
Public offer by German ADLER Real Estate
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for Spanish Axiare Real Estate
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to consortium of buyers
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US public offering
Accelerated bookbuild offering
Secondary offering
Accelerated bookbuild offering
Accelerated bookbuild offering
Acquisition by
of
Acquisition of
by
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Acquisition by
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Dutch wealth management activities
Acquisition by
of
from
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Initial public offering on NASDAQ
Share buy-back program
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of
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Secondary placement of 9.4% stake in
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for
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Secondary placement of 15% stake in
Formation of Passoã joint venture with
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Rights issue
Sale of 19% stake in
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Acquisition of the North American rights to RUCONEST by
from
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of
from
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Secondary placement 30% stake in
Share buy-back program
Direct share placement
Private placement
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Sale of the European veterinary business of
to
Strategic study
Private placement
Placement of treasury shares
Public offer for Deutsche Office
By German Alstria
Public offer for
Initial public offering
Rights issue
Rights issue
Initial public offering
Rights issue
Sale of
to
Residential portfolio sale by Dekor
A company owned by Reggeborgh
Rights issue
Accelerated bookbuild offering
Secondary placement of 35% stake in IOW
Accelerated bookbuild offering
Refinancing
Rights issue
Refinancing
Capital Raise
Initial public offering
Acquisition by
of
Refinancing
Initial Public Offering
Initial public offering
Rights issue
On behalf of
Acquisition of
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Acquisition of the cancer immunotherapy program by
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Initial public offering
Initial public offering
Public offer by French Groupe SMABTP
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Acquisition of
by
Secondary listing on Euronext Paris
Initial public offering
Acquisition by
of
Accelerated bookbuild offering
Convertible bond issue
Fairness opinion in the public offer by
Sale of Hercules business to ZEG
Refinancing
Convertible bond issue
Initial public offering
Sale of Dutch supply assets to
Accelerated bookbuild, preference shares issue and refinancing
Acquisition of
by
undisclosed PE firm
from
At-market rights issue
Acquisition by
of
Accelerated bookbuild offering
Private placement by acquisition vehicle for French Carrefour
Secondary offering
Combined offering of primary and secondary shares
Public offer for German listed GSW
by German listed
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Equity issue
Refinancing
Sale of majority of shares to
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Public offer by
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