Crossroads Real Estate (Crossroads), Primevest’s Holland Immo Group (HIG) and Apcoa Parking have announced the acquisition of the real estate and the operation of the parking garages in Scheveningen and Vlaardingen, the Netherlands, from the owners and founders of BKS Parking. Financial details were kept confidential.
Under the deal, Crossroads and Holland Immo Group have completed the acquisition of the real estate portfolio on March 1 while Apcoa Parking is taking over the operating management of the parking facilities.
The parking garage portfolio has been operated by the current owners for more than 40 years and is known for the Scheveningen parking garages: the well-known 'Parking Kurhaus', the 'Nieuwe Parklaan' parking garage next to the Afas Circustheater and the longest underground parking garage in the Netherlands 'Parking Strand' at the Zwolsestraat with 2,030 parking spaces. In addition, the portfolio includes the inner-city parking garages in Vlaardingen: 'Parking Liesveld', 'Parking Hoogstraat' and 'Parking Stadhuis'.
The portfolio amounts to a total of 3,819 parking spaces. Most (2,850) parking spaces are located in Scheveningen and offer space for visitors to numerous activities in Scheveningen. In Vlaardingen, the three parking garages are aimed at visitor parking in the city center and the City Hall.
Matthieu Dekkers of HIG said: ‘The acquisition has been carefully prepared with all stakeholders from the beginning of 2021. This took time, but it is therefore very special to take over the last large privately owned parking company in the Netherlands. Almost everyone in the Netherlands has parked in these parking garages in Scheveningen at some point.’
Crossroads is a European manager of private equity funds in the real estate sector, with €1 bn in properties under management.
Holland Immo Group is part of Primevest Capital Partners and has been managing institutional and private parking garage real estate funds since 2012. The deal lifts Primevest’s portfolio to €2.8 bn, €1.3 bn of which made of car parks in Europe.
