Patrizia buys two portfolios for €729m
In two separate deals, Patrizia Immobilien AG has purchased two European property portfolios for €729 million ($832 million).
The larger deal concerns a two-property Dutch apartment portfolio, totaling 5,500 units, which is being acquired from Vestia Group. The sales price was €448 million ($505.6 million). The deal was announced in July 2014. It is considered one of the biggest deal in the Netherlands’ residential property market.
The second deal was announced this month. Eurocastle Investment agreed to sell three of its five retail portfolios — Superstella, Tannenberg and Turret —