Primevest Capital Partners acquires multistorey car park in Sheffield for approx. €11 million

 
 
Pan-European Investment manager Primevest Capital Partners (Primevest CP) announces the acquisition of The Moor Car Park in Sheffield on behalf of its Primevest European Parking Fund IV for approx. €11 million. The car park of 670 parking spaces is located in the city centre.

Primevest is further diversifying its portfolio, which now comprises 12 car parks in the United Kingdom. Its total pan-European portfolio of car parks has now grown beyond €1.3 billion.

The multistorey car park of ‘The Moor’ is located on Eyre Street in Sheffield’s city centre area known as The Moor – the city’s prime retail, leisure and business pitch. This area comprises the prime retail high street within the city centre, attracting footfall in excess of 13 million people per year. The car park was completed in 2008 and consists of a ground floor and 9 split levels, to accommodate 670 parking spaces including facilities for the disabled. In addition to being a great location as a car park, it is well-suited for mobility hub functions, such as last mile logistics services, locker boxes for parcel pick-up and electric vehicle charging stations. The Moor car park has been let to APCOA Parking (UK) Ltd on a long-term lease agreement.

The vendor was NewRiver REIT’s joint venture with BRAVO Strategies III LLC, who continue to own The Moor’s wider retail estate. Knight Frank’s specialist Automotive team advised the vendor. The legal due diligence was performed by DWF (UK), Reius and L&W (Germany), tax by Deloitte and the technical due diligence was performed by RPS.

Bas Magielse, Fund Manager at Primevest Capital Partners said: “This parking garage is a great addition to our portfolio as this is an excellent car park which is also well-suited for mobility hub functions which will be optimized going forward. Together with our tenant APCOA, we are able to anticipate the most substantial trends influencing the market for car parks and mobility. We are open to more investments like this and have recently also started the fund raise for our Primevest European Parking Fund V to continue with our successful investments anticipating on changes in urban mobility.”

Kim Challis, APCOA’s regional MD for UK & Ireland, said: “APCOA are delighted that Primevest Capital Partners have completed their purchase of the Eyre Street MSCP in Sheffield, which APCOA will continue to manage. APCOA’s ongoing investment into the car park and our new technologies ensures that our customers enjoy a first class service and experience, and we are excited about the opportunities for mobility hub services at this location for customers and the local community. Primevest Capital Partners’ purchase of the Eyre Street MSCP further extends and strengthens the Primevest-APCOA relationship which now includes parking facilities in Belfast, London and Sheffield, with further opportunities continually being explored by both businesses.”

Sheffield is a city and metropolitan region in South Yorkshire, England. It is England’s fourth largest city, with a population of over 569,000, two universities and over 60,000 students, and an economy worth over £12 billion. Sheffield is home to a growing collective of creative businesses and is rapidly developing a reputation for innovation and quality with specialist clusters forming sector-specific hubs in the city. Amongst others, Boeing and McLaren have made major investments in the city. The economy has experienced steady growth, averaging around 5% annually.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specialises in investments in innovative real assets. At Primevest Capital Partners, our vision is to help our clients to provide for their sustainable financial future by investing in the future of our cities in realising sustainable urban living, improving connectivity, and enabling mobility. Our investment philosophy and vision are energised by the current trend of urbanisation and the ability to fulfil the needs of modern metropolitan communities, while enhancing the quality and sustainability of people’s lives.

From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manage €3 billion in assets including sector-focused funds, individual institutional mandates and a number of funds targeting private investors as well as family offices following acquisition of the Holland Immo Group. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

For more information, please contact:

Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
T: +31 6 832 005 61
lisette.vanderham@primevestcp.com
www.primevestcp.com

 

Acquisition of BKS parking portfolio by Crossroads Real Estate, Holland Immo Group and Apcoa parking

 
 
At the end of 2021, Crossroads Real Estate (Crossroads), Holland Immo Group (HIG) and APCOA Parking signed the purchase agreement for the acquisition of the real estate and the operation of the parking garages in Scheveningen and Vlaardingen from the owners and founders of BKS Parking. Holland Immo Group is part of Primevest Capital Partners.

This parking garage portfolio has been operated by the current owners for decades and found in Crossroads, HIG and APCOA the perfect match to carefully transfer the business. Per March 1, 2022, Crossroads and Holland Immo Group have acquired the real estate portfolio. At the same time, APCOA Parking takes over the operating management of the parking facilities.

‘BKS Parking’
This parking garage portfolio has been operated by the current owners for more than 40 years and is known for the Scheveningen parking garages: the well-known ‘Parking Kurhaus’, the ‘Nieuwe Parklaan’ parking garage next to the AFAS Circustheater and the longest underground parking garage in the Netherlands ‘Parking Strand’ at the Zwolsestraat with 2,030 parking spaces. In addition, the portfolio includes the inner-city parking garages in Vlaardingen: ‘Parking Liesveld’, ‘Parking Hoogstraat’ and ‘Parking Stadhuis’.

In size, the total portfolio amounts to 3,819 parking spaces. Most (2,850) parking spaces are located in Scheveningen and offer space for visitors to numerous activities in Scheveningen. In Vlaardingen, the 3 parking garages are aimed at visitor parking in the city center and the City Hall.

The purchase price of the parking company is not disclosed. Matthieu Dekkers of HIG: “The acquisition has been carefully prepared with all stakeholders from the beginning of 2021. This took time, but it is therefore very special to take over the last large privately owned parking company in the Netherlands. Almost everyone in the Netherlands has parked in these parking garages in Scheveningen at some point.”

Increase parking operations and parking services
APCOA will further professionalize the operation of the parking garages and will focus, among other things, on the digitization of services to increase the ease of use for consumers. In addition, the locations of BKS are very suitable for the implementation of APCOA Urban Hubs. A total concept that provides for a broadening of the use of the parking facility. With solutions for mobility, logistics and charging infrastructure. Carlo Barten: “The parking services will be further expanded with tailored services at the various locations. From increasing (online and offline) findability and recognizability to paying via apps. But we also look at location-specific services. Think of a hand carts rental at Parking Strand. The great thing about ‘Parking Strand’ is that the car entrance is located inland on the Zwolsestraat, while the pedestrian exit is less than a 200 meter walk from the beach and the Pier of Scheveningen.”

Investors
Holland Immo Group acquires the parking garage portfolio together with Crossroads. Crossroads is a European manager of private equity funds in the real estate sector with a thematic and operational approach of investing, with approximately € 1 billion in properties under management. Holland Immo Group is part of Primevest Capital Partners and has been managing institutional and private parking garage real estate funds since 2012. With the takeover structure of the BKS portfolio, the operating result of the parking company is shared with the investors for the first time, as a result of which investors, in addition to a real estate return, also achieve an operational return. This is in line with Crossroads’ investment strategy and expertise. Through this transaction, Primevest Capital Partners is further expanding its portfolio of € 2.8 billion assets under management, of which € 1.3 billion in car parks in Europe.

Crossroads and Holland Immo Group were advised by Taylor Wessing, SGS, Deloitte and Dirkzwager Legal & Tax. Cushman & Wakefield provided the valuations. APCOA Parking was advised by De Bok Roijers Gasseling Advocaten.

Project information
More information about the BKS car parks can be found at www.bksparking.nl. More information about APCOA Parking can be found at www.apcoa.nl

For more information:
Primevest Capital Partners:
Lisette van der Ham
Head of Marketing and Corporate Communications
Phone: 0031-6-83200561
Email: lisette.vanderham@primevestcp.com

 

Primevest Capital Partners acquires two multi-storey car parks in Vienna from Rhomberg Bau for 20 million euros

 
 
The Dutch-German investment manager Primevest Capital Partners has acquired two newly built multi-storey car parks, a supermarket and a commercial unit in Vienna for around 20 million euros for its Primevest European Parking Fund IV.

The seller is the client Rhomberg Bau GmbH, who also built the objects together with Goldbeck Rhomberg as general contractor. The multi-storey car parks “Hauptbahnhof Ost 1&2” with more than 800 parking spaces are located in Vienna’s new Sonnwendviertel district and are leased on a long-term basis to the car park operator Goldbeck Parking. The supermarket is a Hofer branch (Aldi Group), the commercial unit is rented by the bouldering hall operator Boulderbar. Additional income is generated from leases for communication antennas and solar systems on the roof of the parking garages.

The Sonnwendviertel is one of Vienna’s largest revitalization projects. It is located in the “Favoriten” district, one of the most densely populated parts of the city with over 200,000 inhabitants. On the site of the former Südbahnhof, 5,500 new apartments for 13,000 residents, offices and hotels as well as social and cultural facilities were built here. As the main parking spaces for the district, the two multi-storey car parks “Hauptbahnhof Ost 1&2” will primarily cover local needs. In the future, they could also support the new Vienna Central Station, which opened in 2014 and is only a 10-minute walk away, as well as the districts on the other side of the railway line, which can be reached via a new pedestrian bridge.

Bas Magielse, fund manager of Primevest Capital Partners, said: “The traditional role of multi-storey car parks as a pure parking space for vehicles is changing. They are evolving into centres with a wider range of services and are increasingly being integrated into urban infrastructure as the availability of expensive street parking spaces decreases and municipalities restrict vehicle access to city centres. Consumers benefit from the additional services these centers can provide, from electric car charging stations to e-commerce pickup services. With the supermarket and the additional services, this acquisition will become a key service centre for the Sonnwendviertel.”

Martin Summer, Managing Director of Rhomberg Bau in Vienna, explained: “Parking garages are very purpose-driven in their function, but that hasn’t stopped us from attaching great importance to aesthetics and sustainability in the development of this project. The goal was to make our investment ‘future-proof’ by securing and maximizing its value for years to come. The design of the facades, for example, was the result of an architectural competition, and the sides of the multi-storey car parks facing the residential buildings are partially greened. In addition, we have equipped the roof areas with a photovoltaic system that supplies the park operation with electricity and can feed excess energy into the public grid.”

Bas Magielse, fund manager, adds: “Vienna has proven to be one of the most economically consistent cities in Europe, and this property meets exactly the criteria of our investors. This acquisition reinforces our pan-European portfolio of high-quality and sustainable assets, which are in high demand among investors. We remain in acquisition mode and have capital to invest in parking garages across Europe.”

Primevest was advised by Drees & Sommer on the technical aspects, while TPA acted as financial and tax advisor and cmS advised on the legal side.

© Andreas Buchberger

 

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique specializing in innovative real estate and real estate investments. Due to its extensive industry knowledge with a focus on specialized investment areas such as parking, telecommunications and affordable, contemporary housing, Primevest Capital Partners has become a leading provider in these areas. Our ultimate goal is to achieve attractive risk-adjusted returns for our clients. In doing so, we pay attention to sustainable returns and added value. Primevest Capital Partners currently manages €1.8 billion in assets across six sector-specific funds and three individual institutional mandates. Primevest Capital Partners currently employs 40 people in Utrecht and Berlin.

Press contacts:
Primevest
Capital Partners Lisette van
der
Ham Head of Marketing & Corporate Communications lisette.vanderham@primevestcp.com
www.primevestcp.com

About Rhomberg Bau
In the Construction division, the Rhomberg Group acts as a full-service provider and offers solutions and services for all life cycle phases of public and private buildings. This holistic approach ensures the optimization of customer benefits and life cycle costs and also enables the realization of projects that fully meet the criteria of sustainability. Rhomberg Bau’s range of services ranges from planning and project development to residential construction, public and commercial building and civil engineering, conversion and renovation to real estate or business park management. The focus is on user-oriented, ecologically valuable and socially meaningful solutions for living, working or meeting spaces. Rhomberg Bau is active as both a total contractor and a general contractor and realizes turnkey projects.

Press contacts:
Rhomberg Bau
GmbH Torben
Nakoinz Torben.nakoinz@rhomberg.com
www.rhomberg.com

 

Primevest Capital Partners and ParkBee team up to acquire and operate two smart mobility car parks in Rotterdam

 
 
Dutch-German investment manager Primevest Capital Partners and digital car park operator ParkBee have teamed up for the acquisition and operation of two prime car park assets in Rotterdam. Primevest has purchased the asset for around €14 million for its Primevest European Parking Fund IV, while digital car park operator ParkBee will run the daily operations under a long-term lease contract.

The two car parks are located at Wijnstraat 78 & 100, in the heart of Rotterdam’s inner-city business district between its main shopping area and the old port of Rotterdam, with the central business district, Maritime Museum, the Markthal and Cube Houses among the attractions served by the car parks.

Rutger Schuur, CIO at ParkBee said: “The assets offer ample opportunity for improved performance as digitalisation helps us to increase use by directing drivers to empty spaces. With our smart systems we help customers to find the most convenient parking location for the most attractive price across our large network of digitally connected garages. We see substantial opportunities in Rotterdam to increase turnover by encouraging short term use from the adjacent business district as well as from visitors to the city and local residents. Centrally-located car parks and knowledgeable owners such as Primevest allow us to deliver a better all-round user experience and make optimal use of existing urban infrastructures such as the Wijnstraat car parks.”

Bas Magielse: Fund Manager Primevest: “Digitalisation adds value to an asset, making off-street parking quick, cheap and easy as smart operators like ParkBee use technology to direct users to vacant parking bays. Purpose-built car parks reduce the number of vehicles parked on the streets and smart traffic systems lower congestion and pollution thereby making a positive contribution to the environment. This is a win-win for all concerned: from car users to municipalities to operators and investors.”

Primevest has capital available to invest in prime inner city car parks and remains acquisitive. Car parks have proven to be resilient, offering stable long-term cashflows and providing diversification benefits to institutional real estate investors. As a vital part of the infrastructure of cities, their resilience is supported by the trend of removing on street parking to open up public space while keeping cities accessible.

Primevest was advised by technical consultant RPS and law firm CMS NL.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specializes in innovative real estate and property investments. Due to the extensive industry knowledge with a focus on specialized investment sectors such as parking, telecommunications and affordable, contemporary living, Primevest Capital Partners has developed into a leading provider in these areas. Our top priority is to achieve attractive risk-adjusted returns for our customers. In doing so, we pay attention to sustainable income and value creation. Primevest Capital Partners currently manages assets of €1.8 billion, spread across eight sector-specific funds and three individual institutional mandates. Primevest Capital Partners currently has 40 employees at its locations in Utrecht and Berlin.

For more information, please contact:
Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
lisette.vanderham@primevestcp.com
www.primevestcp.com

 

 

Primevest Capital Partners buys €16.5 mln asset in Tilburg

 
 
Dutch-German investment manager Primevest Capital Partners has acquired the ‘Heuvelpoort’ multi-storey car park in Tilburg in the Netherlands for €16.5 million from Tilburg Centrum OG B.V.

This acquisition, for the Primevest European Parking Fund IV, brings Primevest’s total car park assets under management to over €1.0 billion and confirms its position as the largest investor in this specialist property asset class in Europe.

Heuvelpoort is located in Tilburg’s city centre and has 375 parking spaces spread over a ground floor and 11 split levels above. The property was built in the 1980s and was renovated and expanded in 2017. Primevest is to lease the car park back to the current owner/operator who will continue to optimize its performance.

Ruud Roosen, Partner, Primevest Capital Partners, says: “Well-located, inner city car parks make resilient investments and Heuvelpoort is a good example. It is set in a prime location close to Tilburg’s main shopping area, which according to InRetail is proving to be one of the Netherlands most robust city centres during the Covid-19 pandemic. There are also a theatre, Pathé cinema and Mercure hotel nearby, all of which ensure that the car park is in use 24 hours per day.”

Tilburg is the seventh most densely populated city in the Netherlands with 220,000 inhabitants and one of the country’s 12 university cities with 30,000 students. It is in the southern province of Noord-Brabant, near to the Belgium border, and as such is a major logistics hub serving Decathlon, Tesla, Bijenkorf, CocaCola, Sony, and Samsung amongst others. Tilburg was recently named the ‘Logistics Hot Spot’ of the Netherlands by Logistiek.nl. The strength of the city’s economy is underpinned by a large variety of industries, including the transportation, chemical, medical, food and education sectors and the presence of many large Dutch and international retail chains underpins the resilience of Tilburg’s central retail district.

Bas Magielse, Fund Manager, concluded: “The property in Tilburg represents the 49th car park in the low risk, income producing portfolio that we have assembled and manage for our investors. Being able to secure this opportunity in a highly competitive market demonstrates the strength of our network and local market knowledge. We have ready equity to invest in similar opportunities to Tilburg across European markets.”

Primevest was advised by RPS, Deloitte and CMS NL.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specializes in innovative real estate and property investments. Due to the extensive industry knowledge with a focus on specialized investment sectors such as parking, telecommunications and affordable, contemporary living, Primevest Capital Partners has developed into a leading provider in these areas. Our top priority is to achieve attractive risk-adjusted returns for our customers. In doing so, we pay attention to sustainable income and value creation. Primevest Capital Partners currently manages assets of €1.7 billion, spread across eight sector-specific funds and three individual institutional mandates. Primevest Capital Partners currently has 40 employees at its locations in Utrecht and Berlin.

For more information, please contact:
Primevest Capital Partners
Lisette van der Ham
Head of Marketing & Corporate Communications
lisette.vanderham@primevestcp.com
www.primevestcp.com

 

Enabling Smart Mobility

 
 
BLOG POST – Enabling Smart Mobility - by Ruud Roosen, Partner at Primevest Capital Partners

There is a persistent misunderstanding about the future usefulness and necessity of off-street car parks. Many think we will be able to do without them in a number of years. They see a self-driven, automatic vehicle picking us up and dropping us off at our destination and then continuing on its journey.

Nothing could be further from the truth. Even self-driving privately owned vehicles pose a challenge for road capacity and may still cause congestion in our cities when not parked in the direct vicinity of the owner’s destination as these vehicles then have to drive back out of the city and drive back in later on to pick up its owner doubling the traffic flow in a city. And the need for a private car, and independent mobility, will not decrease significantly. Certainly not for those out-of-town dwellers, who want, or need, to visit a city centre every now and again. Not everyone will wish to wait for a self-propelled Uber, preferring to leave when it suits him or her, or the family. Covid-19 also shows that the need for our own ‘personal mobility space’ is not necessarily a thing of the past and will continue to have a role in the future.

View from the street
But there is something else going on. Something that will determine the future of parking to a much greater extent. And that is reducing the ‘functional view of the street’ in order to improve the quality of the public space. Increasingly cities are doing this. On the one hand by increasing the costs of on-street parking and on the other hand by reducing the number of parking spaces available. As a result, vehicle users will find their only choice is off-street car parks. Look not just at Amsterdam, but also Oslo.

As a result, the use of parking garages will become optimised simply because spaces are increasingly scarce. Even if the number of vehicles in city centres decline, measures taken by local authorities to reduce on-street parking will make car parks essential in order to guarantee the accessibility of inner cities for everyone.

Smart Cities
City authorities are increasingly understanding that car parks play an important role in inner-city infrastructure and so ‘smart parking’ is becoming more commonplace. This means that a potential user is informed ‘real time’ about the nearest available parking space, the cost and alternatives. In addition to a better customer experience, this prevents traffic searching for spaces, which forms a significant part of total inner-city traffic movements. Smart parking reduces CO2 and particulate matter emissions.

Smart parking can also be used to achieve greater flexibility in parking tariffs depending on whether there is more or less demand for parking, something that is already being applied on a smaller scale by parking operators. All these applications are based on the integration of parking into the infrastructure of a city, made possible by new technologies such as the Internet of Things in combination with 5G. Primevest is responding to this by means of its ‘Smart City’ product which integrates 5G techniques into lamp posts, thus creating a dense network of antennas which deliver data to the user even faster.

Mobility hubs
The traditional role of garages as a ‘warehouse’ for cars will change in the future, creating greater dynamism. Car parks will increasingly become ‘mobility’ hubs. Adding value will be central to this, whereby the customer will be offered additional services that can range from charging an electric car to online ‘pick-up’ services.

But that’s not all. Where there is room for other functions besides parking, we will see that car parks are also being used as ‘last mile’ delivery centres, where storage space is integrated and air-conditioned zones can be integrated, for example, for the catering industry. The preparation and distribution of delivery meals from customised spaces in parking garages close to the customer is something that is already happening. The last mile can then be bridged by less polluting electric-powered vehicles. Even rooftop spaces are now being used by parking operators as temporary event locations.

In summary
• Car parks will have to cope with rising demand for vehicle spaces due to the growing pressure on public space;
• Car parks will increasingly be integrated into urban infrastructure;
• Car parks will transform into smart mobility hubs.

At Primevest Capital Partners we believe in this future for car parks and see this asset class as an important addition to the portfolios of real estate and infrastructure investors. For 15 years we have invested in this asset, on the back of strong fundamentals which essentially have remained unchanged: scarcity of product, which is not easy to substitute and provides stable and long-term income streams. The future role of car parks in enabling smart mobility in our city centres is one fundamental that was not included as an investment-criteria when we launched our first fund 20 years ago, it is now.

 

Article PropertyEU: Finding a space in the car parking sector

 
 
Although car parks are likely to remain a specialist asset class due to liquidity issues, the sector’s long-term potential is accelerating. With car ownership in Europe on the wane, and the continent’s leading cities increasingly driving private vehicles out of town with green policies, the investment case for car parks might seem to be dwindling.

Yet with industry insiders calculating that around half a billion of standalone, investment-grade assets were traded in the sector in 2019, nearly twice the figure for 2018, it is apparent that investor demand is on the rise. Furthermore, the latest state-driven sustainability initiatives – plus the rising value of prime, down-town land in Europe’s leading cities – may actually be boosting the relevance of parking facilities, according to Primevest Capital Partners, one of Europe’s leading car park investors.

BY ISOBEL LEE

Read full article: Article PropertyEU

 

 

Corona update 18-03-2020

 
 

Mobile business operations at Primevest Capital Partners

In view of the current situation due to the corona epidemic, Primevest Capital Partners is working in parts in mobile business operations until further notice. All of our employees have cell phones and a laptop, and our IT applications can be accessed remotely.

We ask for your understanding that until further notice we are restricting visitors to our buildings and are not holding meetings at all. Like during our usual business operations, our employees are always available for you using the known contact details. As soon as this situation changes, we will inform you accordingly.

Utrecht / Berlin, March 18, 2020 at 6 p.m.

 

Primevest Capital Partners acquires third car park in Dublin

 
 
On 10 of July Primevest Capital Partners has acquired the Christchurch car park on Werburgh Street in Dublin for its 4th institutional fund, as a further expansion of its investment portfolio.

Situated on the edge of the Irish capital’s main retail area, the newly-acquired location is surrounded by a variety of offices, hotels and theatres. Thanks to these different anchors, the car park benefits from a wide range of customers throughout the day. The above-ground multi-storey building offers 213 parking spaces and is operated by Q-Park.

Floris Haentjens, Acquisition Manager Parking: “This kind of car park is exactly what we are looking for, and we are open to making new investments throughout most of Europe. This is our 3rd acquisition in Dublin – and already the 48th car park in our port-folio. Its acquisition further strengthens our high quality, sustainable portfolio of car park investments across Europe, bringing our investment volume in the car parks segment to a total of over €900 million”.

Bas Magielse, Fund Manager, adds: “Dublin is an attractive city to invest in. The Christchurch car park has a very favourable location and benefits from a tenant with a good covenant. As an asset, it is expected to provide our investors in this segment a highly stable and relatively attractive cash return.”

For further information, feel free to contact:
Lisette van der Ham
Head of Marketing & Corporate Communications
Lisette.vanderham@primevestcp.com
www.primevestcp.com

 

T-Mobile, Primevest Capital Partners and VolkerWessels Telecom start city-wide its fiber rollout in The Hague

 
 
VolkerWessels Telecom have signed a cooperation agreement with the municipality of The Hague concerning the rollout of Fiber to the Home networks.

A consortium of T-Mobile, Primevest Capital Partners and VolkerWessels Telecom is formed to roll out an open-access FTTH network on which also 5G and Smart City applications in urban areas can be deployed. The consortium will start in June with the rollout of 33.000 home and business addresses in Segbroek, a district within the city of The Hague. With this cooperation, T-Mobile delivers on its promise to roll out fiber networks. The cooperation combines the unique strengths of each partner unlocking favorable economics, rapid, low impact and customer focused network rollout.

Richard de Mos, alderman for Economic Affairs, Sport and Public Space: “The municipality of The Hague is extremely happy with this fruitful cooperation. The consortium will bring our city a state of the art digital infrastructure that will benefit our citizens as well as our businesses. The city-wide rollout of Fiber-to-the-home will realize good digital connectivity for all the citizens in The Hague. The new fiber network is distinctive from other initiatives, as it is ready for all thinkable future applications and will offer open access to third parties. We expect this to boost innovation in telecommunications services in our city.”

Promise to The Hague
In January of this year, T-Mobile Netherlands merged with Tele2 Netherlands. A merger that was cleared by the European Commission without remedies. Søren Abildgaard, CEO: “With this merger, we have created the strongest possible challenger in the duopolistic Dutch telecommunications market. During the approval process by the European Commission, we made it very clear that this merger will strongly benefit Dutch consumers. To prove this we made them five hard promises. With the new consortium, we deliver on our promise to roll out fiber networks. Starting right here in The Hague, where our headquarters are located. The partnership with Primevest and VolkerWessels Telecom allows consumers to benefit from high quality, high speed fiber networks and offering ultrafast Internet and a rich TV content portfolio at very attractive prices.”

Benefits for all stakeholders
Primevest Communication Infrastructure Fund invests in passive communication network assets. They provide long term access to telecom providers that support an open access investment strategy. Bas van Dongen, Partner at Primevest: “We believe this leads to a higher utilization rate of the network, which is beneficial to all stakeholders. End users benefit from attractive pricing, telecom providers benefit from attractive network access pricing and the investors benefit ultimately from the higher utilization rate.. By future-proof and innovative rollout approach, construction works can be kept to a minimum. With T-Mobile, we have a strong partner in business supporting our investment philosophy.”

Enabling connectivity
Wido van de Mast, CEO of VolkerWessels Telecom: “We are very excited to be working together with T-Mobile, Primevest Capital Partners and the municipality of The Hague on deploying a state-of-the-art FttH network in The Hague. This cooperation aligns with our ultimate goal of enabling total connectivity and contributing to people’s quality of life. VolkerWessels Telecom acts within the consortium as a full turnkey contractor. In this role, we combine years of experience in the telecom market with innovative solutions and technical professionals.”

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specializes in innovative real estate and property investments. Due to the extensive industry knowledge with a focus on specialized investment sectors such as parking, telecommunications and affordable, contemporary living, Primevest Capital Partners has developed into a leading provider in these areas. Our top priority is to achieve attractive risk-adjusted returns for our customers. In doing so, we pay attention to sustainable income and value creation. Primevest Capital Partners currently manages assets of 1.6 billion euros, spread across eight sector-specific funds and two individual institutional mandates. Primevest Capital Partners currently has 40 employees at its locations in Utrecht and Berlin.

For more information, please contact:
Lisette van der Ham
Head of Marketing & Corporate Communications
lisette.vanderham@primevestcp.com
www.primevestcp.com