PATRIZIA holds two fund closes
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.