AIF Capital GmbH (AIF Capital), formerly E&G Funds & Asset Management GmbH, together with the asset manager Holland Immo Group (HIG) has acquired the Weena car park in Rotterdam for the open-ended special AIF “E&G Car Park Fund Europe”. After acquiring 3,490 parking spaces at the former Fiat factory site in Turin in December 2019, the fund has now secured another centrally located car park in a European metropolitan region. Within just one year of the fund’s launch, AIF Capital has now invested more than EUR 100 million in European parking properties.
“We have again acquired an established parking garage in a prime city center location,” says Ralf Schlautmann, Managing Partner at AIF Capital.
The car park is located in the Central Business District (CBD) in Rotterdam right next to the pedestrian zone “Lijnbaan”. In the neighbourhood you will find numerous offices, shopping facilities, hotels, restaurants and a cinema, which ensure that there is a demand for parking throughout the day. The car park offers 480 spacious parking lots, which are accessed via a characteristic spindle.
Tristan Capital Partners (Tristan) acquired the entire Weena complex, including offices and a parking garage, at the end of 2019. The Weena building was developed in 1968 for the American oil corporation Texaco. In the course of the transaction, the car park was transferred to the fund as an independent unit.
About the E&G Car Park Fund Europe
Since its launch in June 2019, the E&G Car Park Fund Europe has acquired car parks and underground car parks in the Netherlands, Germany and Italy. The purpose is to use the equity of German institutional investors to build up a car park portfolio diversified across Europe. The partner for this fund is Holland Immo Group, a Dutch provider of real estate investment funds and asset manager with years of expertise in car parks & underground garages. HIG provides support in the acquisition of parking properties for this European car park fund. To diversify the portfolio, the fund is actively seeking attractive investment opportunities in Spain, Ireland, Belgium and Finland.