PATRIZIA has launched the PATRIZIA Living Cities Residential Fund (Living Cities), an open-ended fund with a core strategy that currently has €650 million ($716 million) of seed assets and is expected to grow to over €1 billion ($1.1 billion) in assets next year.
The fund is PATRIZIA’s flagship, core pan-European residential fund for institutional investors and is underpinned by the company’s 35 years’ experience of both investing in the residential sector across Europe and managing open-ended discretionary funds. PATRIZIA has access to local deals through its unrivalled network of 200 local residential investment professionals.
A number of existing and new global institutional investors from Europe and Asia have committed to the fund with further parties in advanced due diligence.
Anne Kavanagh, CIO at PATRIZIA, said, “We are thrilled to have successfully launched this new flagship residential fund to capitalize on the exciting opportunities availab
