Orange Investment Managers acquires Dutch car park De Boreel in Deventer8 October 2018
ARC Real Estate Partners has sold the De Boreel parking garage in Deventer to one of the parking funds managed by Orange Investment Managers. The parking garage is part of the shopping center “De Boreel” and has 642 places. The shopping center with the higher-level houses is located at the entrance of the old city center of Deventer. De Boreel shopping center has a retail area of 34,000 m2 and has a mix of retail and leisure. Q-Park still has a long-term contract for the operation of the parking garage.
Michiel Gerritsen: “We are very happy with this purchase. De Boreel fits well in our portfolio. Now that we have added this garage to the portfolio, we can focus on further growth of the portfolio. We have an ambitious growth target for the Netherlands and the rest of Europe. “
The parking garage is included in a real estate fund parking garage that invests in public parking garages in the Netherlands. De Boreel is the third purchase of this fund.
CMS Derks Star Busmann and RPS consultancy and engineering firm acted as advisers on behalf of the buyers. Loyens & Loeff acted on behalf of the seller.