Dutch investment manager Bouwfonds REIM has held the final closing of its second institutional Parking Fund.
Dutch investment manager Bouwfonds REIM has held the final closing of its second institutional Parking Fund.
Bouwfonds European Parking Fund II closed with a total equity commitment of €187 mln. Bouwfonds has already acquired its first assets, and Bouwfonds expects the fund to be fully invested by end-2014.
The fund is structured as a German real estate vehicle and invests in a diversified pan-European portfolio of car parks, with a focus on inner-city locations.
Fund director Ruud Roosen believes the sector offers great investment opportunities. ‘Over the last five years, car park investments have outperformed the general real estate segments. Despite the economic circumstances they generated solid returns,’ he said.
‘Car park investments offer stable and secured cash flows with long-term leases.’
