AIF Capital Group has announced the acquisition of the Princesa underground car park in a central downtown location in Barcelona. After the purchase in June this year, this is the second acquired property in the Catalan metropolis.
The purchase was made on behalf of the open-ended special alternative investment fund (AIF) Parking Fund Europa, which focuses on parking garages and underground parking lots.
The Princesa underground parking lot is already the eighth property for the parking lot fund launched in 2019. The new investment property is located at Vía Laietana 20 in the Ciutat Vella district alongside the well-known Las Ramblas and has around 180 parking spaces on four levels. A long-term lease agreement has been signed with one of the top three parking operators in Spain.
Daniel Wolf, managing director of AIF Management, said: ‘The Princesa underground car park is a very good complement to our other investment property in the Catalan metropolis. The location offers the best conditions for integrating various mobility services such as car sharing, e-mobility or last mile distribution. Our two purchases in Barcelona provide us with a solid basis for further investments in Spain. As part of our partnership with one of the TOP 3 parking lot operators, we have already been able to identify new concrete investment opportunities.’
AIF Capital Group has been active in the parking industry since 2011. AIF Capital Group is also active with several funds in the areas of care and social real estate, residential, food retail as well as in the segment of sustainable infrastructure, including renewable energies.