Tristan fund sells Rotterdam parking garage to German fund
Curzon Capital Partners 5 Long-Life Fund, Tristan Capital Partners’ perpetual core-plus fund, and local operating partner Nexus Real Estate have completed the sale of a site comprising 480 parking spaces in the city center of Rotterdam, Netherlands, for €46.1 million ($52.3 million) to E&G Parkhausfonds Europa, a fund specializing in parking garages.
Originally acquired from Credit Suisse in December 2019 together with The Core, a 16,940-square-meter (182,000-square-foot) office space set across 10 floors, the parking site is located close to the central station in a prime location in Rotterdam’s CBD. The Core is leased to tenants such as the Office for Metropolitan Architecture and Vodafone Ziggo. The site will be managed collectively by E&G Funds & Asset Management GmbH and Holland Immo Group.
Gyongyver Giday, director at Tristan Capital Partners, said, “Successfully completing this
