Pan-European investor Patrizia Immobilien says it completed 鈧�8.7 bn of real estate transactions last year, more than double the volume achieved in 2014.
Pan-European investor Patrizia Immobilien says it completed 鈧�8.7 bn of real estate transactions last year, more than double the volume achieved in 2014.
The 2015 figure includes acquisitions and sales of residential and commercial property carried out by Patrizia for its managed funds, co-investments and its principal investments.
The performance ensures that Patrizia, which has offices in 11 European markets, will again feature prominently in PropertyEU's latest Top Investors ranking by investment activity that is published in March. Augsburg-based Patrizia's 2014 transaction volume of 鈧�4.1 bn gave it 10th position in the transaction ranking published in March 2015.
Acquisitions
Patrizia reported 鈧�4.4 bn of residential and commercial property investment transactions throughout Europe on behalf of a variety of investment vehicles during 20215, compared with 鈧�3.4 bn the year before. The company also expanded its activities outside of the German market last year. The value of its international acquisitions increased by almost 50% to around 鈧�2.7 bn in 2015 (2014: 鈧�1.8 bn).
'We have again successfully proven our ability to identify and transact on off-market acquisitions throughout Europe. In addition we raised around 鈧�1.5 bn of capital from institutional investors and around a third of that was outside Germany,' said Patrizia CEO Wolfgang Egger. Around 200 savings banks, cooperative banks, pension fund institutions, insurance companies and sovereign wealth funds invest through Patrizia throughout Europe.
Rising sales
Patrizia also reported a spike in disposals last year: it sold 鈧�4.3 bn of residential and commercial property assets, up from 鈧�700 mln in 2014.
The 2015 disposals were dominated by several large transactions. For example in June, S眉ddeutsche Wohnen was sold with just under 20,000 flats for around 鈧�1.9 bn. In November, a portfolio with 13,500 flats was sold on for a 鈧�1.1 bn.
Patrizia manages real estate assets worth 鈧�17 bn, primarily as a co-investor and portfolio manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks.
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TOP INVESTORS
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PropertyEU is currently compiling its ranking of Top Investors based on transaction volume in 2015. The ranking is based on a survey questionnaire sent to investors and reports such as above by investors on real estate acquisitions and disposal volumes.
Haven鈥檛 received a survey request? Please send information on total investment and disposal volumes, plus a list with details of top deals, to Deals Editor Cormac Mac Ruairi at research@propertyeu.info
The ranking is published in March 2016.
