Bouwfonds European Real Estate Parking Fund acquired another multi-storey car park in Germany from F&C REIT Asset Management. The carpark provides 860 places under the Friedensplatz in the heart of Bonn. The total transaction value is about EUR 13 mln.
Bouwfonds European Real Estate Parking Fund acquired another multi-storey car park in Germany from F&C REIT Asset Management. The carpark provides 860 places under the Friedensplatz in the heart of Bonn. The total transaction value is about EUR 13 mln.
The transaction has boosted the total fund value to EUR 230 mln. The portfolio comprises 19 parking facilities, located in France, Spain, the UK, Belgium and Germany. Four car parks are in Germany: Bonn, Standorten Passau, Osnabruck and Gelsenkirchen.
The fund has also recently acquired the Q-Park-operated carpark ‘De Kolk’ in Amsterdam. Other purchases are in the pipeline.
Bouwfonds European Real Estate Parking Fund invests in parking facilities in city centres, shopping centres and other locations in European cities. The fund has been specifically structured for international institutional investors.
Parking facilities form a relatively new category of solid and sustainable real estate investments, the company said in a press release. The Bouwfonds European Real Estate Parking Fund is based in Luxembourg and eventually seeks to have assets worth approximately EUR 300 mln. The required equity capital has been placed entirely with institutional investors from the Netherlands and Germany.
