Bouwfonds Investment Management has acquired a European car park portfolio of 17 properties for roughly €250 million ($266 million).
The seller is the special property fund Bouwfonds European Real Estate Parking Fund.
The properties are located in major cities in Germany, France, the United Kingdom, the Netherlands and Spain and are to be included in the open-ended special property fund Bouwfonds European Real Estate Parking Fund III.
Seven of the car parks are located in France, of which three are in the capital city Paris. Four properties are located in the United Kingdom, of which two are in Greater London. Another two are located in the Netherlands and one in Spain. The three German properties are in Gelsenkirchen, Bonn and Passau. Altogether, the portfolio comprises approximately 10,000 parking spaces. The operators include companies such as Q-Park, Indigo, NCP and Verkehrswacht.
BEREPF I is the first investment fund exclusively dedicated to investments in car park real estate that Bouwfonds IM launched in 2005.