Bouwfonds' car park-focused investment vehicle has made its first acquisition in the Netherlands with the purchase of the Kolk underground car park in Amsterdam. The transaction value comes to EUR 44 mln, the fund's manager Bouwfonds Real Estate Investment Management said on Wednesday.
Bouwfonds' car park-focused investment vehicle has made its first acquisition in the Netherlands with the purchase of the Kolk underground car park in Amsterdam. The transaction value comes to EUR 44 mln, the fund's manager Bouwfonds Real Estate Investment Management said on Wednesday.
The European Real Estate Parking Fund made the acquisition by way of a public tender issued by the municipality of Amsterdam. The car park is located in the heart of the city and will be operated by Q-Park under a 20-year lease.
Following the transaction, the total fund value reached EUR 215 mln, Bouwfonds said, comprising 18 parking facilities located in Germany, France, Spain, Belgium, the UK and the Netherlands.
The Luxembourg-based vehicle, which is entirely invested by German and Dutch institutional investors, is targeting a size of around EUR 300 mln.
