Dutch firm, Holland Immo Group, has acquired the public car park Heuvel Eindhoven, located south of Eindhoven’s city centre. German lender, Berlin Hyp, provided the financing for the purchase of the car park. The property has been fully let to operator, Q-Park.
The car park has a total of 1,085 parking spaces adjoining a shopping centre with residential units above and in the vicinity. Shopping centre Heuvel was named Europe's most sustainable shopping centre by the Dutch Green Building Council in 2017.
The mall is a popular asset of over 40,000 m² with mixed uses including more than 50 fashion and lifestyle shops, parking, residential, offices and entertainment venues such as Grote Markt and Stratumseind, as well as the Muziekgebouw and Holland Casino.
In addition, Heuvel offers a mix of living and working with approximately 3,600 m² of office space and 44 apartments.
Peter Helfrich, MD of Holland Immo Group, which was acquired by Primevest in 2021, said: ‘Heuvel car park is a great addition to our portfolio as this is an excellent well-functioning car park which is well-situated in the city centre of Eindhoven. This car park has been acquired for a new fund which will be launched at the beginning of 2023.’
The new fund was first reported on by PropertyEU in March this year.
Parking fund sale
At the same time, Holland Immo Group completed the sale of its Parking Fund Nederland IV to Telios RE Infrastructure for Mobility Fund.
The fund is aimed at institutional and professional investors and expects to invest more than € 150 mln by 2024. The total selling price amounts to €22.5 mln.
Holland Immo Group achieved a great total return of 14.0% per annum with this transaction. The forecast had predicted a total return of 9.0% per annum.
Mirian Broere, head of investment at Holland Immo Group, said: ‘We are very pleased with the sale of Parking Fund Nederland IV. With this transaction, we realized a very good return for our investors, which exceeded the forecast.’
Matthieu Dekkers, investment management (parking), added: ‘After this successful transaction, we will continue our focus on investing in car parks. It is a good stable asset class that we would like to continue offering to our investors. We remain in acquisition mode and have many investors looking to invest in car parks across Europe.’
Telios Investments is a partner company of Green Arrow Capital, an independent investment group specialised in infrastructure investments with €2 bn worth of AUM.
Holland Immo Group was advised in this transaction by Loyens & Loeff as legal advisor and Deloitte as sales process facilitator.
