Alinda acquires US parking company

Chicago-based InterPark manages parking systems, and underwrites and invests in parking properties. Financial details of the acquisition, which closed at the end of June, were not disclosed.

Connecticut-based infrastructure firm Alinda Capital Partners has acquired US parking developer InterPark Holdings from GE Capital Real Estate, according to a spokesperson for Alinda.

Alinda has not released financial details of the acquisition, which closed on 30 June, the spokesperson said.

Chicago-based InterPark manages parking systems at airport, residential, municipal and other facilities across the US, and also underwrites and invests in parking properties, according to the company’s website. InterPark says it owns $1 billion in parking assets across 16 markets, generates more than $200 million in annual parking revenues and employs a staff of 1,000.

Alinda and InterPark, together with Xerox-owned outsourcing company ACS, formed one of 11 groups that expressed interest in Pittsburgh's parking concession last year. The Alinda/ACS/InterPark consortium also became one of seven groups that the City qualified to continue in the bidding process, but a spokesperson for Alinda said the consortium did not submit a final bid for the parking concession. The potential concession was ultimately voted down by Pittsburgh’s city council.

Alinda, which closed its first fund on $3 billion in June 2007 and its second fund on $4.1 billion in January 2010, holds investments across several sectors, including roads, telecommunications, wastewater and natural gas distribution assets. The firm has also reportedly been in recent talks with Spanish infrastructure group Ferrovial to acquire a 10 percent stake in UK airports operator BAA, in which Alinda already owns an interest.