ABN Amro provides EUR 85m for mixed-use project in Rotterdam

ABN Amro Real Estate Finance has provided EUR 85 mln in financing to developer Provast for the Markthal mixed-use project in Rotterdam. The funding relates to the superstructure for the EUR 175 mln development project.

Markthal, located in the Laurens district of Rotterdam, comprises 8,000 m² of retail and food outlets, a covered market area and 226 apartments, of which 124 are to be sold. There is also a four-level underground car park with space for 1,250 vehicles.

The car park has been sold to Rotterdam city council, while Amsterdam-listed retail property specialist Corio has acquired the food outlets and the market floor. Residential property owner Vesteda has bought 102 apartments.

The scheme, designed by architect MVRDV, will be delivered in September 2014.