The new fund aims principally to invest in car parks in Western Europe, including the United Kingdom. Also, up to 40% of the fund’s properties may be acquired in Spain, Italy, Portugal and Ireland.
According to news from Spanish Real Estate, the lTIR expected after expenses and taxes at fund level os more than 6%. HANSAINVEST, Hanseatische Investment-GmbH, is the service provider for the fund, while Donner & Reuschel AG is the holding bank.
Bart Pierik, Director General of the business unit for parking at Bouwfonds IM, comments,” We have recently bought a portfolio of 17 car parks for approximately 250 million euros for BEREPF III, and we are delighted to be able to present the next fund.”
Martin Eberhardt FRICS, Director General of Bouwfonds IM Deutschland, adds that,”Demand for investment in car parks from institutional investors is high. This class of assets is adjusting well to current demand from investors for stability and attractive cash flow,” he concluded, from the same source.