- Around 70% of transactions were acquisitions, underlining PATRIZIA’s role as a strategic investor for clients in a challenging market
- Key sectors included residential (EUR1.8bn/29%), infrastructure (EUR1.4bn/23%) and logistics (EUR1.3bn/22%), demonstrating PATRIZIA’s strategy execution moving into real assets
- Of the deals closed, 16 were over EUR 100m in size and five exceeded EUR 200m, delivering scale for investors during a time of economic uncertainty
- Since 2018, PATRIZIA has transacted on approximately EUR 37bn of real assets
Augsburg/London, 8 February 2023. PATRIZIA, a leading partner for global real assets, completed on EUR 6.5bn1 of transactions globally in FY 2022, underlining its continued role as a strategic investor for clients during a challenging market. Completed transactions were down just 1.5% year-on-year delivering outperformance relative to market trends, while around 70% of the transactions were acquisitions.
Residential attracted the highest volume of activity, with EUR 1.8bn (29%) transacted in the sector, followed by infrastructure with EUR 1.4bn (23%) and logistics with EUR 1.3bn (22%). Both the volume and share of logistics transactions rose on the previous year, while a significant increase in the volume of infrastructure deals helped offset declines in office and residential transactions.
Throughout 2022, the most active markets for PATRIZIA were DACH (29%), Iberia (16%) and UK&IE (11%). Compared to 2021, in Iberia the share of transactions increased by more than two and a half times and in France and Italy the share of deals doubled. The highest growth market was Japan where the volume of transactions increased by more than five times the previous year, significantly growing PATRIZIA’s footprint in the APAC region in line with its strategy.
Completing an average of around three deals per week, the robust volume of transactions in 2022 highlights the expansion of PATRIZIA’s product range and its ability to deliver for clients in a challenging market environment. Over the last five years, PATRIZIA has transacted on approximately EUR 37bn of real assets deals.
Philipp Schaper, CEO European Real Estate at PATRIZIA, said: “Despite a challenging 2022 marked by interest rate rises, the war in Ukraine and ongoing supply-chain challenges, PATRIZIA continued to deliver high-value real estate and infrastructure deals across Europe, as well as in APAC, in line with our strategy to become a global real assets player. Last year we were able to successfully scale a number of our flagship funds, notably PanEuropean which reached EUR 1bn in GAV and our Smart Cities Infrastructure Fund (SCIF), as well as launch a new real estate fund in Japan, broadening our footprint in APAC. We are excited to further strengthen our combined real estate and infrastructure expertise to continue driving significant long-term value for our investors.”
Graham Matthews, CEO of PATRIZIA Infrastructure, said: “2022 was a milestone year for PATRIZIA as we took a major step forward in significantly growing our global infrastructure investments. Not only did we launch a brand new fund in APAC, we substantially invested in our flagship equity and high-yield debt funds in Europe. And our global smart cities strategy surpassed EUR 600m in committed investments, broadening our portfolio of assets that enable smarter, better-connected communities across the globe. Infrastructure remains a core part of PATRIZIA’s growth ambition and it will only become more essential for investors in the years ahead due to the strong inflation protection and income resilience that it provides.”
Despite a slowdown in residential activity, PATRIZIA successfully completed a c. EUR 600m forward funding deal to acquire a 10-building residential portfolio in Barcelona on behalf of its Living Cities fund. Notable infrastructure deals included investments in Ottima and Selettra, two of Italy’s leading smart street lighting companies, as well as the acquisition of a majority stake in the Italian bio-LNG producer Biomet, demonstrating PATRIZIA’s strategic move to become a global real assets investor. PATRIZIA’s acquisition of the largest Dutch logistics property, a distribution centre in Rotterdam, was among the most significant logistics deals of 2022.
PATRIZIA’s preliminary financial results release for FY 2022 will be made available on 28 February 2023.
PATRIZIA: A leading partner for global real assets
With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 38 years. PATRIZIA manages more than EUR 57 billion in assets and employs over 1,000 professionals at 28 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped around 250,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 23 years. You can find further information at www.patrizia.ag
1 The above-mentioned closed transaction volume figure for FY 2022 may differ from the figure released in the upcoming preliminary financial results of 28 February 2022 due to a different calculation methodology for the purpose of financial statements.
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