Primevest Capital Partners takes over first residential Build-to-Rent project in Seville from AEDAS Homes

 
 
Primevest Capital Partners took over the first residential Build-to-Rent project in Seville, Spain on behalf of a German pension fund on 21 December 2022. The property measuring 13,000 m² consists of three buildings with 125 residential units and has been developed in the style of a resort. These buildings will provide a new supply to the rental market in Seville.

Primevest Capital Partners, an investment and asset manager for institutional investors, acquired the property from AEDAS Homes in early 2022. The property was also developed by AEDAS Homes, a leading national housing development company.

Olaf Steinbusch, Senior Acquisition Manager at Primevest Capital Partners, says: “This first Build-to-Rent project consolidates our investor’s investment strategy in Spain, which is based on acquiring properties in selected cities throughout the country. We are grateful to Enrique Molina Campos (Alba REIM) for sourcing and brokering this opportunity. Besides Spain, Primevest invests in residential projects and assets in Germany, The Netherlands, Denmark, Austria and in the future also in Italy. In addition Primevest invests in parking assets as well in other European countries such as Norway and UK.”

The property at ‘Jardines Hacienda Rosario’, consists of three buildings with 125 residential units sized between 60 m² and 115 m². There are also two commercial units and includes a parking garage with 196 parking spaces on two levels. All apartments have a storeroom, balcony or terrace, a fitted kitchen and built-in cupboards in all bedrooms. The project has been developed in the style of a resort with two swimming pools, six padel-tennis courts, a football field, basketball courts, a children’s playground, a jogging trail of more than one kilometre, a social club with catering services, large gardens and promenades.

The development has BREEAM certification which indicates high levels of sustainability based on features such as solar panels for electricity generation, heat pump air conditioning (without fossil fuels), rainwater and wastewater collectors, state-of the art LED lighting and a clean point for recycling waste, plastic, glass and paper, which will ensure substantial savings in energy and the economy for future residents.

Claudia Gerber, Senior Asset Manager at Primevest Capital Partners highlights: “In the case of Seville, where most of the rented properties are owned by private individuals, this building will provide a new supply, professionally managed and adapted to the rental market, combining many aspects of contemporary, affordable, and sustainable living. There is a high demand for the property due to its design and high quality of the buildings as well as the wide range of possibilities for leisure activities.”

Rental prices start at €600 per month for the 3-bedroom apartments, €700 for the 4-bedroom apartments and €950 for the 5-bedroom apartments, plus service charges. The property management will be handled by MVGM Property Management, one of the leading European property management companies for this type of product. The first tenants will be able to move in at the end of January. The Build-to-Rent project has been named ‘Las Delicias’ in reference to an historic garden in Seville’s city centre and will be marketed under this name.

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 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, network and to strengthen each other. Through this, we are able 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 34 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

 

MEAG, Ärzteversorgung Westfalen-Lippe and Primevest Capital Partners create a partnership to deploy fiber-optic networks in Germany through a wholesale company

 
 
MEAG, Ärzteversorgung Westfalen-Lippe (ÄVWL) and Primevest Capital Partners (Primevest CP), have reached agreement on creating the joint venture Open German Fiber to deploy Fiber-to-the-Home (FTTH) in Germany. During its formation, the company already secured selected areas in Hessen and North Rhine-Westphalia.

In the joint venture’s targeted structure, MEAG and ÄVWL will each hold 40% and Primevest CP 20%. MEAG will invest on behalf of entities of Munich Re and MEAG European Infrastructure One, MEAG’s infrastructure equity fund for institutional investors.

The joint venture will operate as a wholesale company and, together with anchor internet service providers (ISPs), it is set to deploy local fiber-optic networks in underserved areas across Germany. Primevest CP has been appointed as the asset manager and will coordinate investment plans to ensure that the infrastructure is built in accordance with the highest industry standards and tailored to operators’ needs.

For the initial regions, MEAG, ÄVWL and Primevest CP jointly selected areas which will provide at least 150,000 homes with access to high-speed internet. The areas are located in the regions of Hessen and North Rhine-Westphalia, where the ISPs novanetz and YplaY will be responsible for marketing the fiber-optic network to customers. Construction work in the regions will commence this year.

Primevest CP already has a presence in the same regions and partnered with the same ISPs through investments in its first Primevest Communication Infrastructure Fund (PCIF). Primevest CP will soon launch its second fund, PCIF II, and has already begun to raise equity. It is envisaged that PCIF II will also participate in the consortium.

Dominik Damaschke, Head of Infrastructure Equity at MEAG: “We are very pleased to have teamed up with Primevest CP and ÄVWL on this investment to build a successful long-term relationship. In addition, I am particularly pleased that – with Open German Fiber – we have generated the first investment for our recently launched infrastructure equity fund MEAG European Infrastructure One. Ongoing digitalisation leads to increasing data volumes and FTTH is the only technology that is able to cope with the required higher volume of data throughput. We see a huge market potential for the FTTH market in Germany. Despite its position as Europe’s largest economy, Germany significantly lags behind in FTTH coverage. We are proud to invest in a sustainable infrastructure that accelerates Germany’s social, economic and digital development, and also ensures attractive long-term returns.”

Markus Altenhoff, Chief Investment Officer at ÄVWL: “Last but not least, the Covid-19 pandemic – with its far-reaching protective measures to avoid contact – has shown how important a resilient digital infrastructure is. Only once this is in place can home office, home schooling and the like be guaranteed. With this investment, ÄVWL is proud to be able to support the nationwide expansion of the fiber-optics network in Germany. At the same time, by investing in a future-oriented and system-relevant business model, ÄVWL is adding another investment of stable cash flows and an attractive risk/return profile to its infrastructure portfolio.”

Bas van Dongen, Head of Communication Infrastructure at Primevest Capital Partners: “As first-mover in this asset class with a strategy focused on investing in passive communication infrastructure assets with long-term leases with internet service providers, we now see that this investment model is increasingly adopted by the industry. We are very pleased that we have been able to form a consortium together with MEAG and ÄVWL, leveraging on the knowledge and expertise we have built over the last few years and capturing the many investment opportunities in our investment pipeline. The roll out in the Hessen and NRW regions is a good example of Primevest’s successful investment strategy in Germany”.

The transaction is subject to approval from the competent merger control authorities and closing is expected in the course of 2022.

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 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, network and to strengthen each other. Through this, we are able 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 34 are currently active. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

PCIF has invested circa €250 million in greenfield fiber-optic networks in Germany and the Netherlands and has a further €100 million of investments currently under construction. PCIF works closely with telecommunications and cable operators, municipalities and other stakeholders and offers investors stable cash flow based on long-term leases with network operators. PCIF II will continue the successful investment strategy from the first fund. PCIF II will invest in telecommunications infrastructure assets, with a focus on assets in Germany, the Netherlands, Austria and Belgium, and is targeting total assets under management between €500 to €600 million with 70% invested in fiber-optic networks and 30% in traffic aggregation points and data centres.

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

About MEAG
MEAG is the asset manager of Munich Re and ERGO with offices in Europe, Asia and North America and offers its extensive know-how to institutional investors and private clients. MEAG currently manages assets to the value of around €309 bn, €57 bn of which is for institutional investors and private clients.

Our recently launched infrastructure equity fund MEAG European Infrastructure One complements MEAG’s existing debt offering in the field of infrastructure and will invest in the transformation of the energy industry, digital infrastructure, sustainable transport and other essential infrastructure topics. The fund is classified under Article 8 of the EU Disclosure Regulation and has an attractive risk-reward profile.

About Ärzteversorgung Westfalen-Lippe
Ärzteversorgung Westfalen-Lippe (ÄVWL) is an institution of Ärztekammer Westfalen-Lippe. It is one of the largest professional pension funds in Germany with a current investment volume of around €15.5 billion, and is responsible for the retirement and occupational disability benefits of more than 60,000 members and pensioners.

 

Start of the fiber-optic installation across the entire city of Rahden, Germany

 
 
The Rahden fiber-optic installation project has begun and is on target: installation is scheduled for full expansion of the fiber-optic network throughout the city. Gustav internet is starting the Rahden project expansion with about 2,300 contracts.

“We welcome and support the willingness of Primevest Capital Partners and gustav to set up a future-proof broadband service here in Rahden. Use this opportunity for a future-proof Rahden,” says the Mayor Dr. Bert Honsel.

“It is especially important that the benefits of transitioning to fiber-optic technology are shared by everyone. It is particularly those who already have a somewhat better service in the city centre or in the small villages today but not in a future-proof manner, whose contract will contribute to the success of the full fiber-optic expansion, which is thus made possible for all rural districts”, emphasizes Dennis Kornehl, Managing Director of gustav internet.

This creates a sustainable supply network that already covers all future needs for bandwidth requirements and applications, even if the current internet speed on the older copper technology is still adequate. This is highly relevant in terms of the robustness of the connections (home schooling, home office, numerous video and cloud applications) and not least in terms of a property valuation on sale or when there is a generation change.

Participation in public life is made possible for all generations even for senior citizens with video conferencing, TV on demand, telemedicine applications, etc. In addition, the prospect of a comprehensive fiber-optic network will, for the first time, enable the community to address many new opportunities and achieve many aspects in the digital community.

The aim of all cooperating partners is to build a comprehensive Fiber-to-the-Home (FTTH) fiber-optic network across the entire city of Rahden, thus enabling all citizens to access the fiber-optic network,” adds Klaus Leckelt, Senior Acquisitions Manager at Primevest Capital Partners.

Product contracts can be submitted to gustav internet either by post, email scan, or on site to EP Hauke. Feel free to talk about the project to your city councillors, and local leaders in the individual neighbourhoods of the city.

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 and 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 real assets across 12 European countries including sector-focused funds, individual institutional mandates and a number of funds. PCIF I has invested circa €250 million in greenfield fiber-optic networks in Germany and the Netherlands and has a further €100 million of investments currently under construction. PCIF II will continue the successful investment strategy from PCIF I and invest in passive fiber-optic infrastructure assets, with a focus on assets in Germany.

Press contact Primevest Capital Partners:
Lisette van der Ham
Head of Marketing & Communications
Tel.:  +31 (0) 33 750 47 54
Email:   lisette.vanderham@primevestcp.com
Website: www.primevestcp.com

About GFS    
GFS is a professional team with 20 years’ worth of experience in the field of fiber-optic network development. GFS has accompanied all relevant expansion projects in Germany right from the beginning of privatisations in the telecommunications sector. GFS offers a high-quality service portfolio, from planning to implementation and documentation. Drawing on many years’ worth of experience, successfully completed projects as a general contractor, and not least through its close customer contacts with other telecommunications companies, GFS knows what is important when it comes to the turnkey handover of projects and networks.

About gustav internet
gustav internet is an internet provider that specialises in real fiber-optic products, providing Fiber-to-the-Home (FTTH) through the fiber-optic network. The company offers high-speed internet products, taking advantage of the enormous potential of the new FTTH technology – with modern, contemporary download and upload speeds that conventional technologies such as cable networks or VDSL cannot offer. Together with its partners, gustav internet actively contributes to the Federal Government’s broadband objective by providing fiber-optic connections directly to regions that are not currently connected to a fiber-optic network. gustav internet works together with partners such as local energy suppliers, construction companies or municipalities to set up and operate the fiber-optic infrastructure.

Press contact gustav internet:
Dennis Kornehl
Tel.:      +49(0) 511 9999 8035
Email:  presse@gustavinternet.de
Website: www.gustavinternet.de

 

Hamburg Commercial Bank finances further fiber optic project for Primevest Capital Partners

 
 
Hamburg Commercial Bank (HCOB) is providing long-term financing of EUR 21.5 million to the "Communication Infrastructure Fund" launched by Primevest Capital Partners (Primevest CP) for the expansion of fiber-optic infrastructure in more rural regions around the Frankfurt/Main and Bonn metropolitan areas. This is already the third financing that Hamburg Commercial Bank has provided for Primevest Capital Partners within a year.
  • Fiber-optic network expansion for 15,600 private households in more rural areas around Frankfurt/Main and Bonn
  • Funding under KfW’s “Digital Infrastructure” program

The investment loan is funded under the German government’s KfW (Kreditanstalt für Wiederaufbau) “Digital Infrastructure” Program on behalf the Federal Ministry for Digital Affairs and Transport (BMDV). It was launched to support the construction and expansion of the national fiber-optic network. As Primevest CP’s principal bank in Germany, Hamburg Commercial Bank integrated the program for this financing. Under the project, the fiber-optic networks in Hessen and North Rhine-Westphalia will be further expanded and leased to interested Internet providers. Around 15,600 private households will be supplied with fiber-to-the-home (FTTH) connections.

“Primevest CP is a very experienced investor in digital infrastructure,” said Inka Klinger, Head of Project Finance at Hamburg Commercial Bank. “Due to the very well-coordinated cooperation and a certain repeat character, we can competently and efficiently implement the transaction, which is very important for the still underserved fiber market in Germany.”

Bas van Dongen, Partner Communications Infrastructure at Primevest Capital Partners, said: “We are happy that we can leverage on the strong relationship with Hamburg Commercial Bank. The expertise of HCOB combined with the funding under the KfW’s “Digital Infrastructure” program is important to further finance new investments in the industry. With our attractive pipeline of investments, we aim at continuing the good relationship and further contribute to the growing digital economy”.

About Primevest Capital Partners
Primevest Capital Partners is a pan-European investment boutique specializing in investments in innovative real estate. Primevest Capital Partners aims to contribute to the sustainable financial future of our clients by investing in the future of our cities, providing sustainable living, increasing connectivity and promoting mobility. Our investment philosophy and sustainable goals are driven by the current trend of urbanization and the opportunity to meet the needs of modern urban communities while improving the quality of life and sustainability of metropolitan residents. From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manages €3 billion in assets, including sector-related funds, individual institutional mandates and some funds targeting private investors and, following the acquisition of Holland Immo Group, family offices. Primevest Capital Partners is part of Primevest Capital Partners Holding B.V.

For more information, please to 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

About Hamburg Commercial Bank:
Hamburg Commercial Bank AG (HCOB) is a private commercial bank headquartered in Hamburg. HCOB offers its clients a high level of structuring expertise in real estate financing and has a strong market position in international shipping. The bank is one of the pioneers in the pan-European project financing of renewable energies and digital infrastructure. HCOB offers individual solutions for international corporate clients as well as a focused corporate business in Germany. Reliable and timely payment products as well as other trade finance solutions also support the need of the bank’s customers. HCOB is aligning its activities with established ESG criteria.

For more information, please to contact:

Katrin Steinbacher
Head of Press
Phone +49 40 3333-11130
katrin.steinbacher@hcob-bank.com

Thomas Schwitalla
Press spokesman
Phone +49 40 3333-11425
Mobile 0170 48 68 137
thomas.schwitalla@hcob-bank.com
hcob-bank.com

 

Hamburg Commercial Bank finances further optic-fiber project for Primevest Capital Partners

 
 
Hamburg Commercial Bank (HCOB) provides a long-term financing of EUR 35 million to the "Communication Infrastructure Fund" launched by Primevest Capital Partners (Primevest CP) for the expansion of fiber-optic infrastructure in the regions around Hanover, Leverkusen and Münster.
  • Expansion of Fiber-to-the-Home network for 45,000 private households in Hanover, Leverkusen and Münster
  • Funding under KfW’s “Digital Infrastructure” program

The investment loan is funded under the German government’s KfW Digital Infrastructure program, which was launched to support the construction and expansion of the fiber-optic network. As Primevest CP’s principal bank in Germany, Hamburg Commercial Bank has been involved in the program for this financing. Under the project, the fiber-optic networks in Lower Saxony and North Rhine-Westphalia will be further expanded and leased to interested Internet providers. Around 45,000 private households will be supplied with Fiber-to.the-Home (FTTH) connections.

“We have come to know Primevest CP as a very experienced investor in the digital infrastructure sector and are pleased to continue our cooperation with this transaction,” said Inka Klinger, Head of Project Finance at HCOB. “In a European comparison, Germany’s fiber penetration rate of just under 15 percent is far below the European Commission’s target which averages 40 percent. KfW’s ‘Digital Infrastructure’ program is used as an accelerator for fiber-optic expansion and was also involved in this project. With this financing, we are supporting the roll-out of a modern and sustainable FTTH network in Germany.”

Bas van Dongen, Partner Communications Infrastructure at Primevest CP, said, “With this new project, we have further strengthened our good relationship with HCOB, benefitting from the expertise of the infrastructure finance specialists that support Primevest in its ambition to further grow the investment portfolio. With many investments in the pipeline, we expect more announcements to follow soon.”

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 to 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

 

High-speed gigabit internet for Tuniberg municipalities in Germany: Construction of fibre-optic network started

 
 
Good news in times of working from home and homeschooling: project partners Primevest Capital Partners and Vodafone Germany launch the rollout of a state-of-the-art fibre-optic network for about 5,300 households and businesses in the three municipalities of Opfingen, Munzingen and Tiengen around the Tuniberg near Freiburg. This was announced by Vodafone, Nokia and Primevest at the official launch of the project in Opfingen on March 30.

• High-speed internet for 5,300 households in Opfingen, Munzingen and Tiengen
• Pre-marketing of fibre-optics successfully completed – start of construction

Primevest Communication Infrastructure Fund (“PCIF) is financing the fibre roll-out, which will be built by Nokia. Vodafone operates the network, supplies the fibre-optic connections to the market, and provides services such as high-speed gigabit internet, television and telephony. Construction begins today in Ofingen. The municipalities of Munzingen and Tiengen will follow in a couple of weeks. All infrastructure work must be completed by the end of the year. Information about the fibre-optic project and progress on its installation will be published by Vodafone at www.vodafone.de/freiburg-tuniberg

Rolf-Peter Scharfe, Head of Fibre-Optic Cooperations at Vodafone Germany: “Expansion of the fibre-optic network has been given the go-ahead. We are pleased that, by way of this ambitious project, we can provide future-proof gigabit internet to many households and businesses in the three Tuniberg municipalities. Successful pre-marketing has shown that there is a pressing need for high-speed internet. With this infrastructure programme, Primevest and Vodafone ensure the region has the necessary connectivity to the future technologies of a gigabit society and provide access to digitisation.”

Bas van Dongen, Head of Communication Infrastructure at Primevest Capital Partners: “We are pleased that the effective cooperation between the municipalities, Nokia, Vodafone and Primevest has led to construction being started in these initial areas. The rollout in the Tuniberg municipalities is yet another fine example of Primevest’s successful investment strategy to provide future-proof and modern fibre-optic networks in Germany”.

Fibre-optic connections offer guaranteed bandwidth, greater reliability and security for the future
For the fibre-optic expansion in the municipalities of Opfingen, Munzingen and Tiengen the project partners have used what is known as “Fibre to the Home” technology (FTTH). In FTTH, every home is connected to the substations with its own fibre-optic cable. The benefit of this is that the bandwidth does not need to be shared with other households, so full capacity is always available. In addition, fibre-optic connections are more reliable than conventional copper connections because they are less susceptible to interference. Another benefit is that the technology is future-proof, because transmission can be increased to several gigabits per second, if necessary.

Gigabit for two-thirds of Germany’s inhabitants
The demand for high-speed gigabit internet connections is greater than ever, because data traffic will increase rapidly in the years ahead. To enable transmissions of these volumes of bits and bytes, high-performance internet connections are an absolute must for businesses and private households.

As a gigabit company, Vodafone is the driving force behind infrastructure expansion in Germany and has already reached more than 24 million households over their national fibre-optic network, of which approximately 23 million are at gigabit speeds. By the end of the year, Vodafone will provide two-thirds of Germany’s inhabitants with gigabit connections. In doing so, it relies on a technology mix of cable and fibre optics with an investment programme that not only improves the entire cable network in the present coverage area, but also with other programmes that boost fibre-optic expansion where it is most needed – in rural areas – both for the inhabitants and for the economy.

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 to 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

Vodafone Germany

Vodafone is one of the largest communication networks. Every second inhabitant in Germany is a Vodafone customer – whether they surf on the internet, talk on the phone or watch TV, or whether they’ve installed Vodafone technology at the office, on the farm or in the factory. Vodafone networks connect Germany: not only among families and friends, but also politics, businesses and the wider community. They also help to keep crucial sectors running such as education and healthcare, especially in times of COVID-19.

The Düsseldorf-based company offers internet, mobile telephony, landline telephony and television from a single company. As a digitisation partner of the German economy, Vodafone’s customers include start-ups, SMEs and DAX stock exchange companies. Vodafone is the No. 1 in German mobile communications: no other company in Germany connects more people and machines over its mobile network. No other German company offers more gigabit connections on the landline network than the Düsseldorf firm. And no other company in the entire country has more television customers.

Having more than 30 million mobile telephone customers, almost 11 million broadband customers, more than 13 million television customers, and a host of digital solutions, with its approximately 16,000 employees, Vodafone Germany generates a total annual turnover of approximately €13 billion.

For more information: www.vodafone-deutschland.de or www.vodafone.com

 

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

 

Primevest Capital Partners announces successful handover of residential property in Peine, Germany

 
 
Pan-European Investment manager Primevest Capital Partners (Primevest CP) announces its completion of the residential development project in Peine (Germany), which was acquired in 2021 on behalf of a German pension fund for approx. €27 million. The 8,000 m2 project at Gunzelinstraße 12a – 16b, now consists of 97 modern residential units.

The project is located along Gunzelinstraße in Peine and consists of eight buildings with 97 residential units. The apartments are mostly divided into 2 to 3-room apartments, 19 of which are barrier-free, 11 are suitable for wheelchairs, with a total living space measuring approx. 8,000 m². The property includes a total of 128 parking spaces, 68 of which are situated in a basement parking garage. The city centre is 900 metres to the north-east and several supermarkets and schools are located in the vicinity. The building has been constructed to very high sustainability standards in line with the German KfW-55 regulation, a high standard energy building.

Danica Cicmil, Fund & Acquisitions Manager at Primevest Capital Partners said: “This asset was acquired in 2021 and our transaction team and technical asset management team have jointly managed the handover of this asset after its completion on 1 February 2022. The project is currently in the phase of initial letting. This project will offer young families and the elderly alike attractive and affordable accommodations in modern, purpose-built apartments within a 10-minute walking distance from the amenities in Peine’s city-centre.”

The project is located to the north-east of the city centre of Peine and encompasses the former indoor swimming pool area, which was closed in 2015, as well as the adjacent landscape and parking lots. Before construction of the indoor pool, the area had initially been used for agriculture and later as garden land. Peine is a medium-sized town located about 40 kms to the east of Hannover and 25 kms to the west of Braunschweig.

The vendor was Graf Gunzelin UG & Co. KG, a subsidiary of Berlin-based MHMI Immobilien-Verwaltungen GmbH.

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 €2.8 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 closes second deal in Spain by acquiring residential property in Valencia for German Pension Fund

 
 
Pan-European investment manager Primevest Capital Partners (Primevest CP) has signed its second acquisition in the Spanish residential market. On behalf of a German pension fund, Primevest has acquired a residential property of 6,500 m² containing 90 units near the marina of Valencia for approx. €18 million. The vendor is Hierros y Corrugados Ribarroja, S.A., a subsidiary of the construction group Grupo Bertolín S.A. The project is set to be delivered in Q4 2024.

The project is located on the corner of Calle Vicente Brull and Calle Museros in Valencia. It will comprise two buildings with 90 residential units and a basement parking garage with 58 parking spaces. Both buildings will have several chill-out areas, a swimming pool and children’s playground on the roof deck, as well as storerooms and a bicycle shelter in the basement. In addition, each building will provide space for a gym and co-working. The property will be built for rent (Build-to-Rent) and will be completed by the end of 2024. Construction is set to start in Q3 2022.

Located to the east of Valencia’s city centre, the project is 300 metres from the marina and 800 metres from the beach in the Poblats Maritims district. Aside from being an attractive tourist location, this district has become a hub of technological innovation due to the presence of many start-ups. Two tram lines and several bus lines provide a direct connection to the city centre. In addition, many facilities for daily needs can be found in the immediate vicinity. These include several supermarkets, schools, various museums and leisure centres.

Valencia is located in the eastern part of Spain and is the third largest city in the country after Madrid and Barcelona. The metropolitan region comprises about 1.5 million people, of whom around 800,000 live in the city of Valencia itself. The city of Valencia is home to the University of Valencia and the Polytechnic University of Valencia, two of Spain’s top 10 Universities with over 76,000 students.

The residential buildings will meet modern energy-efficient standards (an A energy rating and BREEAM Very Good) and it will make use of renewable energy sources, such as a photovoltaic installation (solar panels) to generate electricity and a centralised aerothermal system for domestic hot water, state-of-the-art LED lighting in all communal areas and a waste disposal area as a clean point for recycling waste, plastic, glass and paper.

Olaf Steinbusch, Senior Acquisition Manager at Primevest Capital Partners: “We are very pleased that, in partnership with Colliers, we have been able to acquire a second residential property in Spain. This project in Valencia offers a very stable investment opportunity due to the combination of modern high-quality apartments situated at a fantastic location and a good ESG rating. It mainly comprises 1-bedroom apartments to meet the demand of affordable, sustainable and modern rental homes with all kinds of amenities and communal areas. We look forward to expanding our portfolio further with sustainable and affordable homes in the residential market in Spain.”

Earlier this year, Primevest announced its first residential acquisition of €21 million in Seville and marked its entry into the Spanish residential market. Primevest has identified Spain as a market to expand its residential portfolio and will further build a sustainable residential portfolio across Spain in selected cities, such as Alicante, Palma de Mallorca, Bilbao, Cádiz, A Coruña, Granada, Madrid, Malaga, Murcía, Salamanca, Santander, Valencia, Vigo and Zaragoza.

Primevest started to invest in residential real estate in 2007 and has built up a residential portfolio of approx. €1 billion across Europe, focusing on Austria, Denmark, Germany, Spain and the Netherlands. Primevest seeks investments valued between €15 and €60 million, mainly for segregated residential investment accounts for individual clients, primarily pension funds.

Colliers acted as financial and real estate advisor in the transaction, Drees & Sommer as technical consultants and CMS Albiñana & Suárez de Lezo as legal advisor.

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 €2.8 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