PATRIZIA AG has acquired an assisted living complex and medical center in Amsterdam on behalf of PATRIZIA Social Care Fund III. The transaction marks the fund’s first investment outside Germany.
The fund was launched in the first quarter of 2019 to invest in pan-European healthcare assets, including modern and future-proof assets in the nursing home and assisted living sectors. PATRIZIA invested €250 million ($298 million) into 13 properties in Germany last year on behalf of the fund, bringing the total portfolio value to €360 million ($429 million) across 19 assets.
This momentum has continued into 2021, with an additional €200 million ($238 million) of equity raised through the end of the first quarter, including commitments from existing but also new institutional investors. As a result, the fund has met its initial €350 million ($417 million) equity target, providing the fund with €700 million ($834 million) of firepower, including leverage. In Germany
