PATRIZIA makes €350m strategic residential investment in Nordics

PATRIZIA has made a strategic, landmark acquisition in Sweden by investing €350 million ($368 million) on behalf of its clients in a premium Stockholm residential portfolio through the pan-European open-ended residential strategy, Living Cities.

The transaction will increase the Living Cities strategy to €2 billion ($2.1 billion) AUM and increase PATRIZIA’s current residential AUM to around €17 billion ($18.2 billion).

“The area of Stockholm offers stable income return and long-term capital growth. Thanks to its affordability and connectivity, combined with a strong imbalance between supply and demand, Stockholm often features in the top 10 of the PATRIZIA European Living Cities Report which measures over 140 cities for their attractiveness as livable cities,” said Jörg Laue, head of transactions Nordics, PATRIZIA. “Sweden’s economic powerhouse, Stockholm, is predicted to grow rapidly terms of population, so acquiring these turnkey, multi-family houses