Bouwfonds Investment Management (Bouwfonds IM) is launching Bouwfonds European Real Estate Parking Fund IV (BEREPF IV). The vehicle is an individual mandate for a northern German pension fund. Around EUR 200 million is available for investments in European car park properties. Expected IRR after fees and tax at fund level > 6%. BEREPF IV has a term of ten years with an option. The fund is planning to primarily invest in car parks located in Western Europe, including the United Kingdom. In addition, up to 40% of the fund properties may be acquired in Spain, Italy, Portugal and Ireland. HANSAINVEST Hanseatische Investment-GmbH is acting as the fund service provider, while Donner & Reuschel AG will act as the custodian bank.
Bart Pierik, Managing Director of the Parking Business Unit at Bouwfonds IM, says: "We recently bought a portfolio of 17 car parks worth around EUR 250 million for BEREPF III, and we are delighted to already be able to present the successor fund." Martin Eberhardt FRICS, Managing Director of Bouwfonds IM Deutschland, adds: "Demand for car park investments among institutional investors remains high. The asset class of car park properties is also proving to be a good fit for the current investor demand for stable yet attractive cash flows."
Bouwfonds IM is the leading specialist for car park investments in Europe, and has been launching funds in this segment for over ten years. Including BEREPF IV, the investment manager currently manages a total of six funds with car park properties: two closed-end mutual funds for German High Net Worth Individuals and smaller institutional investors, and four open-ended special property funds for institutional investors. Assets under management in the car park segment stand at around EUR 870 million. The properties are located in economically strong regions in the Netherlands, the United Kingdom, Ireland, France, Germany, Spain and Norway.
- Special fund is an individual mandate for a northern German pension fund
- Around EUR 200 million available for investments in European car park properties
- Expected IRR after fees and tax at fund level > 6%
- Fund term of ten years
About Bouwfonds Investment Management
Bouwfonds Investment Management (Bouwfonds IM) is the real asset investment management company 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.