Bouwfonds European Real Estate Parking Fund has acquired its third car park in the Netherlands in a sale-and-leaseback transaction with Q-Park. The investment volume was about EUR 20 mln.

Bouwfonds European Real Estate Parking Fund has acquired its third car park in the Netherlands in a sale-and-leaseback transaction with Q-Park. The investment volume was about EUR 20 mln.

The acquisition involves the Central Station/New Babylon car park of 960 parking spaces in The Hague. The car park is situated under the Anna van Bueren square and is operated by Q-Park under a 20-year lease. Bouwfonds European Real Estate Parking Fund is part of Bouwfonds Real Estate Investment Management.

The transaction boosts the total fund value to EUR 270 mln. The portfolio now comprises 22 parking facilities located in Germany, France, Spain, Belgium, the UK and the Netherlands.

For future car park funds, Bouwfonds continues to invest in parking facilities in city centres, shopping centres and other attractive locations in European cities and is looking for new acquisition opportunities.

Parking facilities form a relatively new category of solid and sustainable real estate investments. The Bouwfonds Parking Fund specialises in investments in (only) car parks. The necessary equity capital will be raised by private and institutional investors.