German listed real estate company Patrizia Immobilien has acquired residential real estate with a total investment volume of more than EUR 250 mln on behalf of its funds in Germany.
German listed real estate company Patrizia Immobilien has acquired residential real estate with a total investment volume of more than EUR 250 mln on behalf of its funds in Germany.
The real estate consists of existing apartments and projects under construction, including nearly 1,000 apartments and 30 commercial property units with total floor space of 86,500 m2 and project development sites. The properties have been purchased in Munich, Frankfurt, Düsseldorf, Regensburg, Hamburg and Berlin.
'These transactions underline Patrizia's acquisition policy very clearly. We acquire properties for our residential funds only in those locations characterised by rising demand and limited supply,' commented Peter Willisch, director of Patrizia WohnInvest.
Patrizia has over EUR 7 bn of assets under management of which about 80% is managed on behalf of third parties.
