- Bart Pierik, Managing Director Parking
Car parks are vital to the attractiveness, quality and effectiveness of inner-city infrastructure, contributing to the reduction of on-street parking and congestion of inner-cities. Bouwfonds Parking Real Estate invests in car parks located in densely populated and economically strong cities with strict and enforced parking policies, anchored to various vital economic activities: working, retail, leisure and/or residential, or in car parks located at hospitals or at infrastructure hubs such as railway stations or airports. We contract long-term, indexed leases yielding stable cash flows and income growth above inflation.
We invest for the long term and offer our investors an attractive risk-adjusted return driven by a favourable fundamental outlook: car ownership is projected to increase over the long term and cars will remain important to reach inner-city destinations. Car parks are an attractive investment class because of their high Sharpe (risk/return) ratio – the vacancy risk is minimal and rental income is readily being substituted by parking income if an operator defaults. We select best-in-class international or local operators with a good track record to manage the car parks we invest in and pay a sustainable rent that has been derived at from long-term historical turnover figures.
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Bouwfonds Investment Management (Bouwfonds IM) is the real asset investment management division of Rabo Real Estate Group, one of Europe’s leading real estate companies. We offer distinctive investment products for institutional and private clients in selected real estate, infrastructure and natural resources sectors. Bouwfonds IM manages a portfolio with a total value of € 6 billion, distributed among the following sectors: commercial and residential real estate, communication infrastructure, parking, and agriculture. Bouwfonds IM has local offices in the Netherlands, Germany, France, Poland and Romania.
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We invest, through our funds, in car parks across Europe. With these car park funds we are able to offer our investors solid returns combined with low risk.
We acquire car parks in:
Within these countries we always look for the national or regional centers.
We are interested in car parks (or portfolios) with a value of at least € 10 million which are leased to a car park operator or under development but pre-let to a car park operator. In the latter case we invest on a forward commitment basis. Furthermore they need to have the following characteristics:
We can invest in the following land ownership structures:
The car parks is / or will be leased to a professional parking operator, which also includes operators owned by local governments.