Key Takeaways
- • PATRIZIA Immobilien AG has received a separate account mandate worth EUR 200 million from a large pension fund based in northern Germany to build a pan-European value-add real estate portfolio.
- • The fund will invest in office, hotel and residential assets in top European cities and select urban locations, with PATRIZIA acting as investment manager.
- • The mandate is a repeat client award, following an existing core portfolio managed by PATRIZIA for the same pension fund.
- • PATRIZIA says more than 200 institutional investors invest in European real estate through the firm, with about half invested in multiple PATRIZIA products.
- • The firm expects to identify and acquire the first properties for the new fund in the coming months, according to Stefan Glossner, Head of Fund Management Value Add.
Summary
PATRIZIA Immobilien AG has announced that it received a separate account from a large pension fund based in northern Germany to build a pan-European value-add real estate portfolio worth EUR 200 million. The pension fund wants to grow its real estate investment exposure and selected PATRIZIA as investment manager for office, hotel and residential investments in top European cities and select urban locations.
Stefan Glossner, Head of Fund Management Value Add at PATRIZIA, said the team was delighted to expand what he described as a successful collaboration with an institutional investor. He credited the firm's work on the existing core portfolio managed for the same client, which he said had led the pension fund to place further trust in PATRIZIA's expertise through the value-add mandate.
According to the company, more than 200 institutional investors worldwide currently invest in European real estate through PATRIZIA, with roughly half invested in multiple PATRIZIA products. The firm says it manages real estate across all strong and relevant European property markets, spanning all asset classes and risk profiles.
Glossner said PATRIZIA's network of local experts across Europe gives it confidence it can identify and acquire the first properties for the new fund in the coming months. Once assets are secured, the firm plans to add value through active asset management.
PATRIZIA Immobilien AG, which says it has been active across 15 European countries for more than 30 years, manages real estate assets worth almost EUR 20 billion, primarily for insurance companies, pension funds, sovereign funds, savings and cooperative banks, and as co-investor. The company's own publisher context lists assets under management of approximately EUR 56 billion across all strategies, which is not stated in the primary release and should be read as a separate, later figure.
Stefan Glossner, Head of Fund Management Value Add at PATRIZIA, said the team was delighted to expand what he described as a successful collaboration with an institutional investor. He credited the firm's work on the existing core portfolio managed for the same client, which he said had led the pension fund to place further trust in PATRIZIA's expertise through the value-add mandate.
According to the company, more than 200 institutional investors worldwide currently invest in European real estate through PATRIZIA, with roughly half invested in multiple PATRIZIA products. The firm says it manages real estate across all strong and relevant European property markets, spanning all asset classes and risk profiles.
Glossner said PATRIZIA's network of local experts across Europe gives it confidence it can identify and acquire the first properties for the new fund in the coming months. Once assets are secured, the firm plans to add value through active asset management.
PATRIZIA Immobilien AG, which says it has been active across 15 European countries for more than 30 years, manages real estate assets worth almost EUR 20 billion, primarily for insurance companies, pension funds, sovereign funds, savings and cooperative banks, and as co-investor. The company's own publisher context lists assets under management of approximately EUR 56 billion across all strategies, which is not stated in the primary release and should be read as a separate, later figure.
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