APG / ABP today announces that it is taking a 39% interest in Interparking, one of the largest providers of parking solutions in Europe. We spoke with Patrick Kanters, Managing Director real assets at APG and responsible for this investment.
Why does APG invest in Interparking?
“This investment is an excellent opportunity to gain access to a high-quality European portfolio of parking locations with an attractive long-term return for ABP and their participants. Moreover, we see potential for further growth in the future.”
“The investment fits in a larger development that we see in the field of "Smart Cities & Smart Mobility". Parking solution providers will play an important role in the "Smart City ecosystem". A Smart City is an ecosystem in the field of infrastructure, services and digital solutions that increase the quality of life, economic growth and sustainability.”
How can this investment be reconciled with our sustainable and responsible investment policy?
“That link can be easily made. Interparking contributes to fewer traffic jams in cities and fewer parked and driving cars on the street. This also leads to fewer emissions in cities. Interparking also undertakes various activities to promote sustainability. The company works in a CO2-neutral manner in all countries where it is active, including through the placement of solar panels on its locations. In addition, Interparking installs charging stations to meet the growing demand for charging electric cars.”
Parking rates in garages can sometimes be very high. How does Interparking handle this?
“This is of course an important theme for consumers. Part of Interparking's strategy is that they do not strive for price maximization. The parking fees that are applied are often lower than those of direct competitors. The reason for this is that Interparking believes in a long-term relationship with consumers and municipalities. So that the company remains relevant in the future. Interparking also applies lower rates for environmentally friendly cars and there are discounts for students and parking in the evenings and weekends.”
Can we expect more from this type of infrastructure investment in the coming years?
“Our pension fund clients want us to invest more in infrastructure. Thus, we are constantly looking for other possible attractive investments in this investment category. As with our other investments, we always look at the right mix of return, risk, costs and esg factors. We expect to add various investments in infrastructure to our portfolio in the coming years.”
Read here ABP press release
Read here APG press release