PFA Pension acquires Interpark as part of investor consortium03.07.2017
An investor consortium, that amongst others comprises the largest Danish commercial pension company, PFA Pension, has acquired InterPark, the largest owner-operator of parking infrastructure in the U.S. In addition to PFA Pension, the consortium comprises TIAA Private Investments, Antarctica Capital, CIC Capital Corporation, China Life and Munich Re Group.
With a portfolio consisting of 57 owned parking garages and surface lots containing 49,000 spaces, InterPark represents a rare opportunity for PFA Pension to invest in core parking assets located is prized locations across the U.S. such as Atlanta, Baltimore, Boston, Chicago, Houston, Minneapolis, Philadelphia, Phoenix, San Francisco and Washington D.C.
The investment in InterPark marks an important addition to PFA Pension’s current portfolio of direct investments in infrastructure and unlisted companies.
Bruun & Hjejle acted as Danish legal counsel to PFA Pension and the transaction underlines Bruun & Hjejle’s commitment to support Danish institutional investments in infrastructure assets.
InterPark is North America’s premier owner, operator and developer of parking facilities. Its ownership perspective and operating expertise result in a superior parking experience for customers. InterPark parks over 16 million cars annually and has a first class team of nearly 900 people providing customers a safe, clean, efficient and courteous parking experience.
About PFA Pension
PFA Pension was founded in 1917 as an independent company by a number of labor organizations, with the sole purpose of ensuring a financially secure future for the employees and their families. Today, PFA Pension has approximately 1.2 million individual customers from a wide range of the largest companies and organizations in Denmark.