Bouwfonds holds €100m close on European parking fund
Bouwfonds Investment Management has held a €100 million ($109 million) final close for Bouwfonds European Parking Fund IV, according to IREI’s FundTracker database.
Bouwfonds European Parking Fund IV opened in first quarter 2017 with a maximum fundraising target of €200 million ($218.4 million). The fund will invest in European parking properties that follow core investment strategies. Bouwfonds seeks a 5.5 percent net return for the fund.
Bouwfonds Investment Management is the real asset investment management division of Rabo Real Estate Group. The firm has €6 billion ($6.5 billion) in assets under management, distributed among the following sectors: commercial and residential real estate, communication infrastructure, parking, and agriculture. Since 2005, Bouwfonds’ European parking portfolio has grown to €807 million ($881.7 million).
In its most recent transaction, Bouwfonds acquired a European car park portfolio of 17 properties in a share deal