Infrastructure has always meant toll roads, bridges, airports and the like. And so, it wasn’t much of a stretch when infrastructure funds started to look at the real estate that begins and ends every road trip — the parking space.
Profiting from parking the cars before and after the drive is a natural extension of the infrastructure investing food chain. Investing in parking isn’t a new concept in the broader investment industry. Throughout Europe, major players such as Vinci and Cintra have been investing in parking lots for ages. But until just a few years ago, the global parking sector had not been considered a real infrastructure sector because, in general, the demand dynamics didn’t reflect the steady, reliable nature of a core infrastructure asset.
Owners of car parks or parking lots have traditionally been specialist operators in a niche industry, with expertise in maximizing profitability while minimizing overhead in a competitive