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PATRIZIA holds two fund closes

by Andrea Waitrovich

PATRIZIA Immobilien AG has closed two separate European real estate funds, according to IREI’s FundTracker database.

LB Pflege-Invest Deutschland I closed WITH €204.8 million ($222.1 million). The core fund focuses primarily on investments in nursing homes in Germany.

And the firm held a €300 million ($325.4 million) close for its PATRIZIA Gewerbe Immobilien Deutschland II. The core fund invests directly in CBD office and retail assets in Germany.

In other news, PATRIZIA established a subsidiary for Spain and Portugal, continuing its European expansion.

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