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PATRIZIA sell portfolio of 22 noncore residential properties
Transactions - MAY 14, 2021

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PATRIZIA sell portfolio of 22 noncore residential properties

by Released

PATRIZIA AG has sold a portfolio of 22 noncore residential properties on behalf of a German residential strategy as it looks to refocus the fund’s portfolio toward larger, more sustainable properties in locations that are more affordable or that are underpinned by significant future growth potential.

The strategy will also target high-growth locations outside of Germany, with capital being recycled into key European markets including the Netherlands, Denmark, Scandinavia, Ireland, France, Spain and Italy.

The disposal consists of 22 assets, which comprise a total of 1,336 homes across 14 German cities, that have been acquired by P&P Gruppe GmbH and Ampega in two separate transactions.

Alexander Hanisch, fund management at PATRIZIA, said, “We have taken the strategic opportunity to capitalize on current market conditions and dispose of these smaller assets, enabling us to crystallize returns. This also aligns with our efforts to refocus the portfolio on p

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