Bouwfonds Investment Management has acquired another car park for its Bouwfonds European Real Estate Parking Fund II.

Bouwfonds Investment Management has acquired another car park for its Bouwfonds European Real Estate Parking Fund II.

The car park, called Bankplassen, is situated in the old city centre of Oslo in Norway and was sold by Q-Park which will continue to operate it.

The total transaction volume amounts to €25 mln.

The underground car park has recently been renovated and now consists of 368 parking spaces, divided over three levels.

'This acquisition is a clear example of the company’s car park acquisition strategy, in which we focus on highly visible properties in the most attractive key areas of major European cities,' said Ruud Roosen, director of Parking Fund ll.

Bouwfonds IM was advised by Newsec and law firm Advokatfirma Ræder. Q-Park was advised by Akershus Eiendom and by Bahr.

The acquisition in Oslo is the fund’s sixth acquisition and boosts the total portfolio to €120 mln. Other investments include car parks in Leipzig, Amsterdam, Groningen and Sheffield.

In early 2013, Bouwfonds European Real Estate Parking Fund II held its final closing, raising the fund’s total commitment to €187 mln. The fund is structured as a German KAG.