Publications

- March 1, 2020: Vol. 14, Number 3

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PATRIZIA raises €634m for largest fund in value-add series

by Andrea Zander

PATRIZIA has raised €634 million for its flagship discretionary value-add fund, TransEuropean VII LP (TEP VII).

Backed by investors from the UK, Middle East, Europe, the US and Asia, the fund is the largest in the PATRIZIA TransEuropean series. TEP VII will pursue a cashflow-driven, value-add strategy primarily across the office, industrial and residential sectors in continental Europe and the UK.  With a target of €1.5 billion, just over €550 million has already been committed in 11 separate transactions across key European cities, including Madrid, Paris, Barcelona, London and Berlin.

PATRIZIA has also held a final close for its PMM Global V fund, raising €263 million in equity commitments. It will invest in global real estate through funds, club deals, joint ventures and co-investments via a network of local operating partners.

Areim exceeded its fundraising target for its latest value-add Nordic real estate fund, Areim Fund IV, with €685 million i

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