PATRIZIA wins EUR 200m pan-European, value add mandate
Large German pension fund increases its real estate exposure with PATRIZIA.
- Fund will focus on office, hotel and residential assets
- Repeat client mandate highlights PATRIZIA’s proven track record Europe-wide
PATRIZIA Immobilien AG announces it has received a separate account from a large pension fund based in northern Germany to build a pan-European value add real estate portfolio worth EUR 200 million. The client wishes to grow its real estate investment exposure and has chosen PATRIZIA to act as investment manager for office, hotel and residential real estate investments in top European cities and select urban locations.
Stefan Glossner, Head of Fund Management Value Add at PATRIZIA, says he is delighted that the team has been able to further expand PATRIZIA’s “successful collaboration” with an institutional investor. “We are very happy that we obviously have done convincing work on our existing core portfolio being managed for this client leading the pension fund into placing even more trust in PATRIZIA’s expertise with this value add mandate,” says Glossner.
More than 200 institutional investors from around the world currently invest in European real estate through PATRIZIA, with approximately half invested in multiple PATRIZIA products. PATRIZIA manages real estate investments in all strong and relevant European property markets, in all asset classes and all risk profiles on behalf of these institutional investors.
Glossner adds that with PATRIZIA’s network of local experts spread throughout Europe’s real estate markets, he is confident of being able to identify and acquire the first properties for the new fund in the coming months. “As a dedicated investment manager, once the assets are secured we will add value to the properties through active asset management,” he explains.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across 15 European countries for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global provider of real estate investments in Europe, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. Currently, the Company manages real estate assets worth almost EUR 20 billion, primarily as a portfolio manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.