Patrizia Immobilien has reported that its operating income in 2015 more than tripled to €155 mln as business activities were expanded to cover 15 European markets.
Patrizia Immobilien has reported that its operating income in 2015 more than tripled to €155 mln as business activities were expanded to cover 15 European markets.
Reporting its 2015 figures on Thursday, the German real estate investor said that it expanded beyond the residential, retail and office sector into European logistics, and built a presence in Spain. Assets under management grew by €2 bn to €16.6 bn last year.
Confirming its guidance for 2016, Patrizia said it expected an increase in operating income to at least €250 mln and another €2 bn increase in assets under management.
'Patrizia’s business model has proven that it works successfully and profitably across Europe,' said CEO Wolfgang Egger. 'We will continue to systematically pursue our growth strategy. The expansion of our European operations offers a considerable growth potential for our clients as well as for us.'
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Top 100 Investors
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Patrizia Immobilien carried out €4.6 bn of real estate acquisitions and €4.3 bn of disposals last year, putting in fourth place in PropertyEU's Top Investors ranking by 2015 investment volume, published in March 2016.
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