Bouwfonds IM acquires Mahler car park in Amsterdam

Wednesday, 17 December 2014

Bouwfonds Investment Management (Bouwfonds IM) has acquired the Mahler underground car park in Amsterdam from Q-Park. With 1,755 parking spaces it is one of the largest car parks in the Netherlands.

  • Transaction volume of around EUR 130 million
  • Prime location in the country’s main central business district (CBD)
  • Leased to car park operator Q-Park for a 25-year period
  • First closing of third institutional parking fund

The car park, which is centrally located in the heart of Amsterdam Zuidas, the most prestigious CBD of the Netherlands, has five underground parking levels. Above the car park there are six high-rise office buildings, Viñoly, The Rock, ITO/SOM, UN Studio, Baker & McKenzie House and the FOZ building, and one apartment building (New Amsterdam).

“We are pleased to have been able to acquire one of the country’s top underground car parks for our funds,” comments Bart Pierik, Managing Director Parking of Bouwfonds IM. “The location in Zuidas (southern axis) in Amsterdam, the country’s main CBD which has low vacancy rates and a great demand for high-quality parking spaces, is a key advantage,” continues Pierik. “We are also pleased to have a highly experienced operator as a long-term tenant.”