E&G Funds & Asset Management GmbH (E&G FAM) is launching another open-ended real estate special AIF with a target volume of 250 million Euro: The E&G Parkhausfonds Europa (E&G Parking Fund Europe). IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH (INTREAL) from Hamburg acts as capital manager for the fund. The cooperation marks a new stage of the long-standing business relationship.
The strategy of E&G Parking Fund Europe is to invest in multi-storey and underground car parks in attractive locations within Europe. With a main investor from the insurance sector and other institutional investors, the fund acquired its first parking property in The Hague just a few weeks after its launch. The investor base will be expanded, adding selected institutional actors before the end of 2019.
With Holland Immo Group (HIG) from Eindhoven, E&G FAM has gained a partner that also specialises in park investments. The two companies had already jointly acquired a car park portfolio in 2012. Currently, both specialists manage more than 250 million Euro of parking properties in Europe. For the E&G Parkhausfonds Europa, they intend to pool their decades of experience in order to build a high-quality, pan-European parking portfolio. Further investments have already been exclusively secured and are to be made in the fourth quarter of 2019.
In addition, E&G FAM acquired white label real asset products GmbH (WL) as an exclusive partner for Europe-wide acquisitions. The companies managing partner Thomas Pohle co-founded Bouwfonds Investment Management B.V. (Bouwfonds IM) and acted as managing director. He was responsible for the management and development of an international real estate portfolio with a volume of approx. five billion Euro. Since 2007, he has been responsible for more than 800 million Euro in car park transactions.
“Car park assets are becoming increasingly popular with institutional investors,” notes Ralf Schlautmann, Managing Partner of E&G FAM. “Long-term leases with international and creditworthy operators generate stable and inflation-proof earnings for investors”. In addition, the risk of loss of rent is considered to be low. In the event of an operator default, operations could be secured by interim measures on the part of the manager, as the income from customers of the car park would still be available.
E&G FAM invest for institutional clients in various property asset segments via national and international investment vehicles. With their in-house capital management company AIF Kapitalverwaltungs-AG, the investment managers from Stuttgart, Germany are accredited to provide property-, credit- and private equity investments to its clients. E&G FAM are a renowned specialist for the property asset classes Parking, Senior Care, Assisted Living and Children Day Care. Next to regulated property investments for institutional clients, E&G FAM also invest directly with own equity in value-add property. The group currently employs 30 experts at its head office in Stuttgart, Germany.
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