- Best performing fund in its MSCI Index peer group on a 5-year annualised basis
- EUR 330 million total acquisition volume in 2020, growing GAV to EUR 800 million
- Recent acquisition of a 75,000 sqm logistics asset in Madrid let to Amazon forms part of strategy to increase focus on logistics
- Awarded 5-star GRESB rating for strong ESG credentials
- Resilient portfolio with 98% occupancy and rent collection at 99% for Q3 2020
Augsburg / London, 17 December 2020. PATRIZIA AG, a leading partner for global real assets, announces that it has raised EUR 220 million of new equity this year for the PATRIZIA PanEuropean Property Limited Partnership (‘PanEuropean’ or the ‘Fund’), the firm’s flagship core open-ended balanced fund. The new capital has been secured from 11 new institutional investors.
PanEuropean, which has outperformed every fund in MSCI’s Pan-European Property Fund Index on a 5-year annualised basis*, was also recently awarded a 5-star GRESB score, reflecting the Fund’s outstanding ESG credentials, including its Net Zero Carbon strategy. The Fund has retained its number one ranking amongst its GRESB peer group for the second year running.
PanEuropean’s London-based fund management team is led by Flavio Casero, Fund Director, and Amirali Kasraie, Fund Manager. Flavio Casero commented: “It is a major achievement that PanEuropean continues to be recognized for both its sustainability credentials and its outperformance of its competitors. We would like to take this opportunity to thank our investors for their support and commitment to the Fund, particularly throughout these uncertain times.”
Amirali Kasraie, Fund Manager at PATRIZIA, added: “The Fund’s robust core profile and low-risk return targets remain attractive to new capital, with the arrival of some EUR 220 million of new equity. As we look to 2021 and beyond, we remain well positioned to strategically grow and further diversify the portfolio by accessing opportunities through PATRIZIA’s expansive European network.”
This year, the Fund has carried out over EUR 330 million of acquisitions, increasing the total GAV to over EUR 800 million, with a view to exceeding EUR 1 billion in 2021. The most recent transactions include the acquisition of a 75,000 sqm logistics asset let to Amazon in Madrid, Spain, and a 54,000 sqm logistics asset in Veghel, the Netherlands.
Activity this year has increased the Fund’s overall weighting to the logistics sector to about a third, and the office sector to a further third, with the balance comprising residential and food-anchored retail. The portfolio has demonstrated its resilience throughout the COVID-19 pandemic, with occupancy remaining high at 98% and rent collection currently at 99%.
PanEuropean is an award-winning Luxembourg based, open-ended, balanced fund with a dynamic core strategy that specialises in the acquisition and management of mainly 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.
*To 31 December 2019
PATRIZIA: A leading partner for global real assets
As a company 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 36 years. PATRIZIA manages more than EUR 46 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag
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