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