Stuttgart/Venlo, 24th of November, 2020 – AIF Capital has acquired the Blok van Gendt car park investing c. €3.9 million for the open-ended special AIF (Alternative Investment Fund) “E&G Car Park Fund Europe”. The property offers 200 parking spaces in a highly frequented downtown location in the city of Venlo in the Netherlands. The car park was built with the intension of making up for the loss of on-street parking spaces in the city center. Q-Park’s 20-year lease commitment with an option for a 15-year extension is a clear indicator of the operator’s confidence in the location and long-term outlook of the project.
This newly built car park was realized according to the principles of “cradle to cradle”. The addition of the property further strengthens the fund’s portfolio from an environmental, social and governance (ESG) perspective. “We are delighted to have acquired the Blok van Gendt car park, a property that favourably combines investment return and ESG criteria,” says Tilo Staudenmaier, Investment Manager at AIF Capital, commenting on the latest portfolio acquisition. Using recyclable building materials, 15 percent less waste was generated during the construction phase, compared to similar projects. To ensure sustainable car park operation, e-charging stations, an elevator installation with a regenerative energy feedback system, an LED lighting concept and a photovoltaic system were implemented to generate up to 50 percent of the energy required. Following the Municipal Hospital Project in Braunschweig, this is the second ESG-focused property to be added to the European car park portfolio.
With an investment volume of more than €100 million, the fund shows dynamic growth only just a year after the inception of the fund, marking the beginning of further acquisitions in parking property developments. “Wherever cycling paths and bus lanes are created, on-street parking spaces have to make way. This long-term development is taking place everywhere in European cities, creating opportunities for attractive investments. Our car parks are vital building blocks of sustainable mobility and offer the opportunity to participate for our institutional investors,” says Ralf Schlautmann, Managing Partner and co-founder of the AIF Capital Group, commenting on the latest acquisition.
As one of the most sustainable communities in the Netherlands, Venlo stands for eco-efficient recycling management and has the highest number of “Cradle to Cradle” certified companies in the world. The project was developed by Holland Immo Group (HIG) in cooperation with the operator Q-Park and Aan de Stegge Twello B.V., the construction company that built the first energy-neutral car park in the Netherlands in 2017. The office Kern Architecten from Roermond designed the building, which blends effortlessly in with the red brick substance of the surroundings with the use of vertical lamellas in Corten steel color.
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 parking garages in the Netherlands, Germany and Italy. The purpose is to use the equity from German institutional investors to build up a car park portfolio diversified across Europe. The partner for this fund is Holland Immo Group (HIG), a Dutch provider of real estate investment funds and asset manager with years of expertise in car parks & underground garages. HIG and White Label Real Asset Products provide 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 the Eurozone, specifically in Spain, Ireland, Belgium and Finland.
About the AIF Capital Group
AIF Capital Group is a real estate investment manager that specializes in alternative investment funds for institutional investors. As an investor, trustee – licensed by the German Federal Financial Supervisory Authority, BaFin – and asset manager, the company offers institutional investors with high-yielding property investment opportunities. Since foundation in 2006 by the Ellwanger & Geiger private bank and subsequent management-buy-out by Mario Caroli and Ralf Schlautmann in 2017, the company has been striving to making conventional asset management innovative and dynamic, while offering a high service quality. The group currently employs 35 people, has equity of 5.6 million euros and currently manages assets (AUM) amounting to around one billion euros.