Today marks the start of the recovery operation for the next 112 cars in the Q-Park parking garage next to St. Antonius Hospital in Nieuwegein. These cars are located on various floors of the parking garage in an area designated as safe by the Nieuwegein municipality.

Safety has been confirmed by experts, and the recovery plan has been approved by the Nieuwegein municipality. To retrieve the cars from the parking garage, a lifting setup will be installed. This setup consists of stacking pontoons to bridge the height difference, combined with a bridge from the floors of the parking garage. The cars will be driven onto the fenced stacking pontoons by a specialized recovery company. A crane will then lift the cars to the ground level. Here, the cars will be inspected by an independent damage assessor.

Michiel Tenge, General Manager of Q-Park, stated: “A month ago, the first 15 cars were recovered. We are pleased that we can now return these 112 cars to their owners. The lifting plan required precise coordination with various parties to ensure safety and protect the investigation area of the Dutch Safety Board (OVV). We look forward to delivering the cars clean and in good condition to their owners shortly. Naturally, we also hope to recover the remaining 14 cars in the investigation area soon.”

Recently, the involved parties – Q-Park, St. Antonius, and Primevest – announced that the term for the loan cars provided to the affected car owners will be extended until September this year. All car owners have been informed via email. The parking garage will remain closed until further notice.

Investor contact
Frank Noé – Head of Capital Formation & Sustainability
Frank.noe@primevestcp.com
+49 172 296 8186

Press contact
Marieke van den Heuvel – Head of Marketing & Customer Experience
Press@primevestcp.com
+31 6 2063 2425

On Sunday, May 26, 2024, the ramps of the Q-Park St. Antonius parking garage near the St. Antonius Hospital in Nieuwegein collapsed. After an intensive investigation using search dogs and drones in the garage, the Utrecht Safety Region confirmed overnight that there are no casualties and that there is no risk of collapse for the entire parking garage. The Dutch Safety Board (OVV) has now started an investigation into the cause of the incident.

Q-Park, the parking operator, and Primevest, the owner of this parking garage, are deeply shocked by the situation and regret that this could happen. “We are relieved that visitors and staff remained unharmed. We would like to express our sincere thanks to the emergency services for their swift and professional response. The cause is currently unknown. We are fully cooperating with the investigation. The safety of our visitors, hospital staff, and Q-Park employees is paramount. Therefore, the garage will remain completely closed until further notice, and access is prohibited.”

Is your car in the garage and do you have questions? The St. Antonius Hospital maintains contact regarding parked vehicles and can be reached at 088 320 30 00. Do you have questions about accessibility or your appointment? Please refer to the frequently asked questions on the hospital’s website.

Press contact Primevest
press@primevestcp.com

The appointment aims to further strengthen the commercial management of the European parking portfolio of more than 50 parking garages. Prior to this, Brink worked at the Dutch supermarket chain Jumbo, where he has been active in the field of acquisitions and development. Before that, he worked in various positions at CBRE.

Bas Magielse, Head of Parking & Mobility: “We are very pleased that Bjørn is coming to strengthen our parking team, as he has extensive experience in the sector and accumulated a great deal of knowledge. Bjørn is familiar with both the leasing as well as the rental side. Working with him, we can take the commercial management of our assets to the next level, further develop the ESG policy and develop new, innovative investment strategies for our customers.”

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique that specializes 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 around 65 professionals manage more than €3 billion in real assets across 12 European countries 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. The complementary brands joined forces in 2021 to grow their market position and network, as well as to strengthen each other. This has enabled us to provide a sustainable financial future to a larger and more diverse client base. The group initiated a total of over 60 funds, of which 29 are currently active. 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

At the same time, there are questions about where to charge these EVs and how to ensure cities remain accessible for all, given these are the economic and social engines of our society. Since car parks can play an important role in this contradiction, Primevest Capital Partners, Europe’s leading investment manager in car parks, hosted a round table event at Dutch Real estate trade fair Provada.

During the discussion, Fred Wilkes (Q-Park NL), Carlo Barten (APCOA NL) and Rutger Schuur (ParkBee), the parking sector’s thought leadership, shared their vision of the role of car parks in relation to the transition to EVs, their potential use as the city’s battery, the impact on the economy and inclusivity of our cities and reducing traffic movements in the city by digitisation and by adding additional uses. The main theme “Car parks: the facilitators of the liveable city” was introduced by moderators Bas Magielse and Tim Vreeken (Primevest Capital Partners). Car parks can facilitate the transition from fossil-fuelled vehicles to EVs.

Carlo Barten kicked off the round table session by arguing the car park sector could play an important role in the transition from fossil-fuelled vehicles to EVs. “Charging an EV takes more time than filling up a car with petrol, even when charged at a fast charger. Converting all petrol stations into EV charging stations will not be sufficient for this reason. Therefore, it would make sense to additionally position EV chargers in public car parks, as EVs tend to be parked there for a longer time.”

Read full article here.

Nowadays, car parks are highly appreciated by investors because of the proven track record of this asset class which had previously been overlooked by the institutional investment world for a long time. This has gradually evolved over the last decade as more and more investors recognise the unique qualities and attractive risk-return profile in this asset class.

Urbanisation is an ongoing trend in Europe that puts a great deal of pressure on the quality of public space and inner-city life resulting in the rapid reduction of on-street parking. Car parks are critical in facilitating this reduction by freeing up street space. In addition, the volume of passenger vehicles is forecast to rise.

Our Parking Team has written an article about the car park investment market.
Read full article here.

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

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

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

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