AIF Capital has acquired an underground car park in Spain on behalf of its open-ended parking lots and garages fund.

The Stuttgart-based investment manager said it has bought the Princesa underground car park in a central downtown location in Barcelona on behalf of the Parking Fund Europa fund. Financial details were undisclosed.

The Princesa, located at Vía Laietana 20 in the Ciutat Vella district, has been leased to one of the top 3 parking operators in Spain.

Princesa is the eighth property to be acquired by Parking Fund Europa, the parking lot fund launched in 2019.

Daniel Wolf, managing director of AIF Management, said: “The Princesa underground car park is a very good complement to our other investment property in the Catalan metropolis. The location offers the best conditions for integrating various mobility services such as car sharing, e-mobility or last mile distribution.

“Our two purchases in Barcelona provide us with a solid basis for further investments in Spain. As part of our partnership with one of the top 3 parking lot operators, we have already been able to identify new concrete investment opportunities.”

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