PATRIZIA closes debut impact strategy with firepower to invest €500m in social and affordable housing
PATRIZIA has held a final close of its debut impact investing strategy with firepower to create a €500-plus million ($543 million) pan-European social and affordable housing portfolio. PATRIZIA Sustainable Communities has secured equity commitments from 10 institutional investors, with Danish pension funds AP Pension and PKA as cornerstone investors.
Launched in January 2022, PATRIZIA Sustainable Communities has already committed a significant share of its capital to affordable housing projects in major metropolitan areas in Western Europe. It commenced its investment program with four major developments: two in Dublin and two in the United Kingdom in Milton Keynes and Bishop’s Stortford, which all together will deliver around 1,000 affordable and social homes.
In Ireland, the strategy has invested in two affordable and social housing developments in established residential neighborhoods in the outskirts of Dublin. The projects have the potential to house more than