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Case Studies

Pioneer in Car Park Portfolio Valuation for the First Car Park Fund in China

JLL provided valuation service for the first car park fund in China. The USD 265 million fund is a partnership among CR Capital, a Dutch pension fund, APG, Macquarie Capital and Wilson Parking Hong Kong. It is the first innovative fund that has tapped into the car park market in China, which is a promising subsector.

Unique nature of the property and lack of benchmarks regarding the property type make valuation a challenge. With critical analysis and detailed research, JLL developed a sophisticated valuation model tailor-made for the fund, providing innovative and value-add valuation services, which brought high level of satisfaction and recognition. Since the fund's inception, JLL has been its retained sole valuer.

The valuations involved a portfolio of car park properties in various development stages, including completed and operating car parks as well as construction-in-process property and development land. The fund aims to be the largest car park-centered investment vehicle in China by acquiring car park assets both in development and in operation. This was again a testimonial of us being the market leader in the valuation services in China.