German investment manager Patrizia Immobilien is on course to grow its portfolio from €11.8 bn to €14 bn this year, having acquired €1.2 bn of assets in Q1 of this year.
German investment manager Patrizia Immobilien is on course to grow its portfolio from €11.8 bn to €14 bn this year, having acquired €1.2 bn of assets in Q1 of this year.
Patrizia added around €1 bn of assets in February when it bought the Leo I portfolio of 18 office blocks in Hesse. Additional deals contributed a further €250 mln.
´The growth of our assets under management is not an end in itself for us, but rather serves to further increase the regular income from the management of real estate portfolios,´ said CEO Wolfgang Egger. But, he noted, the firm has ´already achieved roughly half of the targeted growth of €2 bn by purchasing Leo I´.