Patrizia awarded €300m separate account mandate
Patrizia Immobilien AG has been awarded a separate account mandate by a German insurance company to invest €150 million of equity to create a €300 million ($330 million) portfolio of well-located residential properties throughout Europe.
The firm has started to acquire assets. The first residential property, a turnkey apartment complex, is located in the south of Copenhagen.The property is situated in a newly developed area close to the Amager Beach Park at Öresund.
“The Amager Beach Park is a very successful public development project, which offers excellent public transport links into the city center. We believe this will ensure that there is a strong demand for residential property in the area, facilitating a positive outlook for capital growth,” said Rikke Lykke, managing director, PatriziaNordic region, in a statement.
The residential complex comprises a number of buildings ranging from three to six floors and pr