Berlin Hyp and Deutsche Postbank to provide € 92 million in financing for the Bouwfonds European Real Estate Parking Fund (“BEREPF III”) car park real estate portfolio

Berlin Hyp has joined forces with Postbank in orderto provide financing of € 92 million for the acquisition of a pan-European car park portfolio for the Bouwfonds European Real Estate Parking Fund III. This syndicated loan represents an integral part of the over-all financing for the open ended “Spezial-AIF” BEREPF III focusing on car parks in 7 western-European countries. The lenders have provided a five year term including an extension option. Berlin Hyp acts as Agent for the syndicate.

The newly financed portfolio comprises twelve car parks of which seven are located in France, three in Germany and two in the Netherlands. The new car parks offer about 6,300 parking lots in total and are located in the CBDs of Paris, Amsterdam, The Hague, Bonn and other major cities. The new portfolio successfully extends and diversifies BEREPF III’s investment base which consists also of car parks in the UK, Spain and Finland operated by renowned international car park operators.

IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH is acting as the service asset management company for the fund, performing the administration of the open ended special AIF.

The transaction was overseen by the international law firms Dentons and Latham&Watkins.