German listed property group Patrizia has completed the acquisition of London-based real estate investment and asset management company Tamar Capital Group.
German listed property group Patrizia has completed the acquisition of London-based real estate investment and asset management company Tamar Capital Group.
The transaction closed following the receipt of regulatory approval. The acquisition was initially announced to the market in December 2012. All Tamar’s 21 employees will join Patrizia and the deal will see the company acquire some €700 mln of new assets under management.
Patrizia CEO Wolfgang Egger believes the deal will strengthen the group’s presence in the UK, Ireland, France and Germany. 'The acquisition has already offered Patrizia significant growth and investment opportunities. Furthermore, it has extended the company’s co-investing capabilities with international opportunistic investors looking for exposure across asset classes, particularly in the UK and Ireland,' he said.
