Patrizia Immobilien has reported an investment volume of €2.6 bn on behalf of its listed business and funds plus €600 mln of disposals in 2012.
Patrizia Immobilien has reported an investment volume of €2.6 bn on behalf of its listed business and funds plus €600 mln of disposals in 2012.
Patrizia, which is based in the Bavarian city of Augsburg, said the total volume of €3.2 bn included all purchases and sales carried out for fund investments, co-investments and its own investments.
The listed company and fund manager also obtained €1.1 bn of equity from institutional investors during the year.
Properties valued at €2.6 bn were acquired for the various investment vehicles managed by Patrizia. Co-investment made up €1.6 bn. The largest transaction was Patrizia's purchase, together with a consortium of institutional investors, of 21,000 residential units held by LBBW Immobilien (now SüDeWo) for €1.4 bn.
On behalf of its funds Patrizia's asset management companies acquired properties valued at almost €1 bn, two thirds of which was invested in commercial real estate and the rest in residential real estate.
'We invested approximately 40% of our fund investments in other countries outside Germany last year. This shows once again that we are yet one major step closer to our goal of being a player on the European investment scene,' CEO Wolfgang Egger said.
Patrizia manages real estate assets worth €7.5 bn.
