Bouwfonds Investment Management recently acquired two multi-storey car parks in France from Urbis Park in a sale-lease-back transaction with long-term lease agreements with car park operator Urbis Park. The properties are located in the inner cities of Paris (Trinité) and Lyon (Vaise). The total transaction volume is approximately EUR 26 million.

Trinité car park, with 748 parking spaces, lies in the vibrant heart of the 9th arrondissement in the centre of Paris amidst theatres, hotels, offices and apartments. The car park in Lyon comprises 850 parking spaces and is anchored by a Pathé cinema in a mixed use area in the north-west of the city.

The car parks have been acquired for Bouwfonds European Real Estate Parking Fund II (BEREPF II). Besides Bouwfonds IM, the investors in BEREPF II are German institutional investors. BEREPF II has the legal structure of a German real estate Spezialfonds. The fund invests in first-class, economically sustainable car parks in Europe, primarily in inner-city locations and transport hubs as well as hospital locations. The portfolio of BEREPF II now consists of ten car parks, located in six countries (the Netherlands, United Kingdom, Germany, Norway, Ireland and France).