PATRIZIA makes strategic residential investment in Nordics for c. EUR 350m, propelling Living Cities strategy towards EUR 2bn AUM

PATRIZIA has made a strategic, landmark acquisition in Sweden by investing c. EUR 350m in a premium Stockholm residential portfolio through the pan-European open- ended residential strategy, Living Cities.

  • PATRIZIA invests c. EUR 350 million in turnkey Stockholm County residential portfolio comprising four multi-family houses, across ca. 47,000 sq m, 879 units and 588 parking spaces
  • Largest residential acquisition signed in Swedish real estate market this year
  • PATRIZIA continues to strengthen its market leading position in the residential segment with its diversified core pan-European residential strategy, Living Cities, which is now targeting at least EUR 3bn AUM in high quality assets

 

Stockholm / Augsburg, 10 June 2022. PATRIZIA, a leading partner for global real assets, has made a strategic, landmark acquisition in Sweden by investing c. EUR 350m on behalf of its clients in a premium Stockholm residential portfolio through the pan-European open- ended residential strategy, Living Cities. The transaction, once closed, will propel the Living Cities strategy to towards EUR 2bn AUM and increase PATRIZIA’s current residential AUM to around EUR 17bn.

“The area of Stockholm offers stable income return and long-term capital growth. Thanks to its affordability and connectivity, combined with a strong imbalance between supply and demand, Stockholm often features in the top ten of the PATRIZIA European Living Cities Report which measures over 140 cities for their attractiveness as liveable cities,” said Jörg Laue, Head of Transactions Nordics, PATRIZIA. “Sweden’s economic powerhouse, Stockholm, is predicted to grow rapidly terms of population, so acquiring these turnkey, multi-family houses in such well-connected neighbourhoods is a fantastic achievement in a competitive market. It also sets a new record for PATRIZIA as the largest residential acquisition in the Nordics in our history.”

The properties are all being constructed to one of the highest local ESG standards and will carry the Nordic Swan Ecolabel certification.

“With this latest acquisition for Living Cities in Stockholm, we continue to invest in high quality, powerful cities. We also continue to see investor demand for our flagship pan-European residential strategy with a focus on strong and stable income streams. As the Fund grows towards EUR 3bn, we are excited about sourcing new opportunities in the market,” said Sebastian Dietert, Fund Manager of the Living Cities Fund at PATRIZIA. “We will not only focus on multi-family schemes for Living Cities but will increasingly diversify into alternative residential assets, such as student accommodation and senior living.”

All Living Cities investment decisions are supported by data intelligence analytics that measure the attractiveness and future potential of the assets we target. In combination with PATRIZIA’s strong local knowledge and over 200 residential real estate professionals, we delivered on this landmark investment for our clients.

Living Cities is one of PATRIZIA’s ESG funds which is compliant with Article 8 of the EU SFDR. As an ESG fund, Living Cities promotes clear ESG targets, for example by providing 100 percent renewable energy for all common spaces in buildings and using energy efficient building materials. Living Cities helps to build sustainable and vibrant communities in close proximity to amenities like kindergartens, schools, green spaces and supermarkets. The Fund is closely aligned to five UN Sustainable Development Goals.

 

 

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 55 billion in assets and employs over 1,000 professionals at 27 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 22 years. You can find further information at www.patrizia.ag

 

Contact:

Greg Morsbach
Corporate Communications
Phone: +44 7889 995604
greg.morsbach(at)patrizia.ag