German listed property company Patrizia Immobilien has announced it is expanding its services for national and international institutional investors with a new alternative investments division.
German listed property company Patrizia Immobilien has announced it is expanding its services for national and international institutional investors with a new alternative investments division.
The focus is on complex, non-standardised real estate transactions such as the purchase of financially or operationally distressed real estate companies or portfolios. Both equity and outside capital will be used.
'The objective is to restructure the acquired properties in a sustained manner with the aid of Patrizia's comprehensive real estate expertise and to position them on the market again successfully,' the company said in a statement. Patrizia's main focus is residential property in Germany.
Matthias Moser has been hired to develop the business line. He is a former head in Germany of the Fortress Investment Group and the investment company Terra Firma,.
Wolfgang Egger, CEO of Patrizia Immobilien: 'Following the end of the financial crisis the German real estate market stabilized. Having said this, many portfolios are now facing the challenge of getting a grip on their financing situation owing to imminent new financing agreements. In some cases the debt burden accumulated some years ago is considerable. Here we wish to apply ourselves and deploy our expertise in restructuring, management and repositioning.'
