AIF Capital Group has successfully completed the extension of two major financings for its special real estate AIF Parkhausfonds Europa. The existing loan amount of EUR 22 million for the Weena car park in Rotterdam and P+R Hoornwijk car park in The Hague has been extended for a further five years.
The extension strengthens the fund's financing structure and underlines the confidence of the financing partners in the quality of the properties and in the fund's long-term stable cash flow profile. AIF was supported in the negotiations by the Netherlands-based Citco Group.
The Weena multi-storey car park with 480 parking spaces is located in the Central Business District (CBD) in Rotterdam, directly on the pedestrian zone "Lijnbaan" and is managed by Q-Park. In the immediate vicinity there are numerous offices, shopping facilities, hotels, restaurants and a cinema.
P+R Hoornwijk in The Hague has 446 parking spaces and is located in the Rijswijk district of The Hague, in the Hoornwijk Business Park, with over 120 local companies and shops. The car park benefits from its proximity to the A4/A12/A13 motorway hub and a P+R stop. From there you can reach the city centre in less than 15 minutes.
Long-term stability and sustainable returns
With the successful refinancing, the Parkhausfonds Europa is setting the course for continued solid earnings development. The two multi-storey car parks have been part of the fund's portfolio for 5 (Weena) and 6 (Hoornwijk) years and are characterised by high occupancy, central locations and stable user frequency.
"The extension of the loans confirms the high market acceptance and sustainable performance of our fund," explains Georg Koch, Senior Fund Manager at AIF Kapitalveraltungs-AG. "Especially in the current interest rate environment, securing attractive financing conditions in the long term is an important signal for our investors."
Parking garages as a resilient investment focus
Since its launch in June 2019, the open-ended real estate special AIF "Parkhausfonds Europa" has acquired nine multi-storey and underground car parks in the Netherlands, Germany, Spain, Italy and Finland. Thanks to the combination of central city centre locations and sustainable mobility concepts, the fund remains well positioned even in a changing mobility environment.
