GreenPoint buys NCP portfolio for £305m
US alternatives firm GreenPoint Partners has bought Davidson Kempner’s NCP car park portfolio for £305m.
GreenPoint said that as part of the deal, it has partnered with new investors Ivanhoé Cambridge and Greater Manchester Pension Fund alongside existing investor GCM Grosvenor, which upsized its commitment on behalf of its clients.
The portfolio contains 37 car park facilities in city centre locations across the UK, comprising nearly 15,000 spaces with a concentration in major cities including London, Manchester, Liverpool, Bristol and Birmingham.
US alternatives firm GreenPoint Partners has bought Davidson Kempner’s NCP car park portfolio for £305m.
GreenPoint said that as part of the deal, it has partnered with new investors Ivanhoé Cambridge and Greater Manchester Pension Fund alongside existing investor GCM Grosvenor, which upsized its commitment on behalf of its clients.
The portfolio contains 37 car park facilities in city centre locations across the UK, comprising nearly 15,000 spaces with a concentration in major cities including London, Manchester, Liverpool, Bristol and Birmingham.
GreenPoint said it will work with NCP to identify and execute on opportunities to enhance operations, implement new electric vehicle infrastructure and introduce technology-enabled services to the portfolio.
The deal marks the third investment between GreenPoint and Ivanhoé Cambridge and the first within the firm’s real estate private equity platform.
Davidson Kempner paid circa £500m for the portfolio in 2016.
Chris Green, founder and chief executive of GreenPoint, said: “We are excited to expand our European mobility logistics platform with such a high-quality portfolio of metro locations.
“Alongside our existing relationship with Infinium Logistics, we are building a portfolio of high quality mobility logistics assets that over-time can also play an important role in the decarbonisation of transportation.”
Alexander Çakir, partner and co-head of real estate at GreenPoint, said: “In a more challenging macroeconomic environment, the importance of innovative and reliable mobility and logistics-oriented solutions is essential for businesses, individuals and governments alike.
“With our exceptional team, deep technology expertise and the support of a group of like-minded investment partners, we are well positioned to invest in improving these assets to create a market-leading UK parking and charging platform.”
GreenPoint launched its real estate PE platform in May 2022, with initial investments focusing on decarbonisation, advance fulfillment, delivery and parking solutions.
The firm previously invested in and partnered with UK-based operator Infinium Logistics to build out a portfolio of final mile logistics assets incorporating critical charging infrastructure across Europe.
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