Bouwfonds REIM's European Real Estate Parking Fund has acquired its second car park in the Netherlands from Cocon Vastgoed. The investment volume was not explicitly stated but Bouwfonds said the deal increased the value of the fund to EUR 242 mln from the previously disclosed figure of EUR 230 mln.
Bouwfonds REIM's European Real Estate Parking Fund has acquired its second car park in the Netherlands from Cocon Vastgoed. The investment volume was not explicitly stated but Bouwfonds said the deal increased the value of the fund to EUR 242 mln from the previously disclosed figure of EUR 230 mln.
The acquisition involves the Noordse Bosje car park of 400 parking spaces in Hilversum, the Netherlands. The car park is situated in the heart of the city and is operated by City Parking. CB Richard Ellis advised Bouwfonds on the transaction.
The fund is based in Luxembourg and aims to acquire assets totalling EUR 275 mln. The portfolio currently comprises 21 parking facilities located in Germany, France, Spain, Belgium, the UK and the Netherlands.
The fund has sourced the necessary equity capital from Dutch and German institutional investors.
