Bouwfonds secures €36m loan for Dutch car parks

German lender Berlin Hyp has agreed a €36 mln finance package to Dutch investor Bouwfonds for a portfolio of six car parks in the Netherlands.

The car parks are located in Amsterdam, Eindhoven, Breda, Amersfoort, Nieuwegein and Zaandam. Five of the six properties are under long-term rental and management agreements with Q-Park.

Bouwfonds has three open-ended special real estate funds investing in Dutch car parks, with assets under management of around €790 mln. The six car parks partially underwritten by Berlin Hyp are part of the Private Dutch Parking Fund II.

Gero Bergmann, of Berlin Hyp’s board of management, said: ‘We are pleased to have supported our client Bouwfunds Investment Management Deutschland with the financing of the investment properties in the Netherlands, one of our foreign target markets.’