Relations presse immobilier
Contact médias : Carol Galivel - 01 41 05 02 02
PATRIZIA acquires EUR 90m German residential portfolio
Buy and hold strategy for an economically sound portfolio
- 805 apartments across 19 properties in six locations
- Majority located in Bavaria, Baden-Württemberg, Berlin and Hesse
- 60,000 square metres of rental space
- Portfolio also includes 33 commercial units
Augsburg, 9 November 2017. PATRIZIA Immobilien AG announces that it has acquired an 805-
unit residential portfolio in Germany for around EUR 90 million from Peakside Capital. The
acquisition was made on behalf of institutional investors for a real estate fund managed by
PATRIZIA. The portfolio, totalling 60,000 sq m of rental space and which also includes 33
commercial units and around 370 parking spaces, is spread across 19 properties in six locations:
Amberg, Oberursel, Berlin, Stuttgart, Kitzingen and Deggendorf. The majority is located in Bavaria
and Berlin.
PATRIZIA’s Head of Acquisitions Residential, Christoph Langmack, says this portfolio, with its
stable macro- and micro-locations, represents an “economically sound” acquisition for investors.
The bulk of the properties were built in the 1950s and 1960s. A number of the buildings have
already been modernised; PATRIZIA will invest in a renovation and modernisation scheme in order
to improve the quality of the remaining apartments. “Through these measures we aim to continue
the seller’s successful modernisation strategy and achieve sustainable value increases for our
clients as part of a buy and hold strategy,” explains Langmack.
