Great…mystery solved. Hopefully the previous owners didn’t lose the orange tool. Again at some point, BMW stopped giving/using the orange tool on many models.
My F15 X5 has a looped metal cable in the rear left side compartment that you’re told to use the screw driver to help pull the loop upward. And my f06 doesn’t use the tool or have an easy way to manually release the parking brake. You have to go underneath the car to find a screw that manually releases the P-BRAKE.