Patrizia holds €55m final close for private investor real estate fund

Patrizia Immobilien AG, a European investment manager, has held a €55 million ($58.4 million) final close for Patrizia GrundInvest Stuttgart Südtor, its second real estate fund for private investors.

Patrizia GrundInvest Stuttgart Südtor was launched to finance the acquisition of a mixed-use complex in the city center of Stuttgart, Germany. The building complex comprises 77 modern city apartment units, office space, retail space, a hotel and catering facilities, as well as an underground parking facility.

Patrizia recently acquired an office and commercial building in Mainz, Germany, for its private investor funds. The five-story building accommodates office space, medical practices and day clinics, retail space, and restaurant space, as well as theater and leisure facilities. The firm acquired office buildings in Munich for its private investor funds as well.

In other news, Patrizia GrundInvest recently launched and is now raising capital for its Residentia