Cheyne Capital has provided a senior development loan to Great Grey Investments, advised by Kempen & Co., to finance the construction of the commercial and parking components of The Ensemble, an ambitious 85,000m² mixed-use development located in Amsterdam Southeast. This project represents Cheyne’s first deal in the Netherlands, illustrating its targeted expansion into previously untapped European jurisdictions.
The Ensemble is set to become a city landmark, characterised by its modern façade, interwoven base plinth, large outdoor spaces, and unique attention to multifunctional design. The mixed-use development features two residential towers housing close to 600 apartments, 3,200m² of ground floor space for amenities, six floors of office space (19,000m²), as well as two large parking garages with electric charging facilities and ample space for cars and bicycles. The plinth will include valuable social elements, such as a medical centre with a pharmacy and a youth talent centre complete with a theatre.
The Ensemble is a highly sustainable, A++++ label, BREEAM-excellent building, named the most sustainable mixed-use high-rise building in Amsterdam and one of the most sustainable residential buildings in the Netherlands by the Municipality of Amsterdam. The plot was acquired in 2019 with demolition works commencing in December 2021. The Ensemble is due to be completed in the summer of 2025.
Ewout Luykx of Great Grey Investments said: “This development financing underscores the attractiveness of this high-quality, sustainable, socially-inclusive, mixed-use development, in an area which has garnered both strong municipal support and interest from investors. Moreover, this transaction underpins the strong demand for prime commercial real estate in top-tier locations. We are happy to have selected Cheyne Capital as our funding partner for this project.”
Daniel Schuldes and Lennart Weinhold of Cheyne Capital said: “We are proud to be able to contribute to the financing of this incredible project. The Ensemble leads the way on sustainability and is an example of a best-in-class urban development with its various uses combined in a single building. We look forward to supporting Great Grey Investments to get the building completed and to seeing the final product come to life.”
