This year, PATRIZIA’s PanEuropean fund took a maximum five out of 5 GRESB stars and was again ranked number one in its peer group. PATRIZIA’s Hanover fund also came top among its peers.
Both funds have set ambitious targets to continue reducing energy and water consumption, waste and greenhouse gas (GHG) emissions and will adopt a Net Zero Carbon strategy by the end of this year.
The achievement by PanEuropean is all the more impressive considering that it is also the best performing fund in the MSCI index on a five-year annualised basis.
GRESB 5 Stars is the highest rating and recognition for being an industry leader.
Flavio Casero, who heads the PanEuropean core fund at PATRIZIA, said: “We are absolutely delighted for PATRIZIA PanEuropean to have been awarded a five-star GRESB rating for 2020. Having consistently ranked #1 in our peer group for the past several years, we have continued to push relentlessly to improve standards across the portfolio; this award is testament to our company-wide intention to be the industry leader in all ESG matters, and a direct reflection of the efforts and innovation of our on-the-ground asset managers stationed across Europe.”
PATRIZIA’s PanEuropean Fund specialises in the acquisition and management of commercial property located in major cities and large conurbations in Western Europe and Scandinavia. The fund’s lower risk core income and growth investment style is characterised by a stable running yield enhanced by active management and capital appreciation through asset improvement, re-positioning, and timely sales. The portfolio is actively managed and exclusively comprises core assets.
"We are absolutely delighted for PATRIZIA PanEuropean to have been awarded a five-star GRESB rating for 2020."
Flavio Casero, Head of PanEuropean core fund at PATRIZIA
While PATRIZIA’s TransEuropean VI and UK Value 2 were able to build on years of GRESB experience, the Living Cities Fund, which was launched late last year and made its debut in the 2020 assessment, was awarded its first Green Star.
“Our Living Cities Fund is committed to ensuring that the communities we invest in are inclusive, safe, resilient and sustainable, in close alignment with at least five of the UN’s SDGs. Having made our GRESB debut this year, we look forward to gaining more GRESB Green Stars in the near future,” said Sebastian Dietert of PATRIZIA’s Living Cities fund management team.