Real estate funds: About Patrizia
Author: Andrew Pratt, James Kirk (yBC.tv)Categories: Brands, Deal-making, Investment
Tags: assets, commercial investment business, commercial property, development, euros, Germany, housing, IPO, Patrizia, real estate, residential, UK
Real estate funds and commercial investment businessesPatrizia was set up in the mid 1980s, basically as a residential property company investing in residential property in Germany. Went through an IPO in 2005, now has over fourteen billion euros worth of assets, mainly in central Europe, fifty residential and commercial, we have thirty funds in Germany, we're the second biggest house builder in Germany as well now, the market in Germany's changing from being a, er, rental market to home ownership. Similar model to the UK. We act for a hundred pension funds across Europe - well across the world, actually. The strategy for Patrizia was to replicate that model, in the UK. Came into the UK, about - just under two years ago now we've been setting up both residential and conversion, commercial investment businesses.