Quantum Immobilien has added an asset to its Netherlands car park fund.
The €8.2bn real estate manager has invested an undisclosed sum to buy the car park in Dordrecht for its City Parking Netherlands investment vehicle.
The car park, built in 1991, is located at Korte Kolfstraat 235 within the city’s pedestrian zone. It offers 404 parking spaces and is let to Q-Park.
Martin Berghoff, head of transactions at Quantum Immobilien, said: “The Netherlands is one of the most attractive markets for the off-street segment.
“There is a strict parking policy in place, with the aim of getting cars off the streets and into car parks.”
Berghoff said the limited supply of parking spaces, along with parking rates which are quite attractive by international comparison, makes investments in carefully chosen car park properties very appealing.
“We are also able to achieve a high level of resilience to crisis through long lease terms with operators with strong credit ratings.”
Following the latest acquisition, the City Parking Netherlands fund now holds six assets in its portfolio.
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