PATRIZIA AG has completed the forward purchase of a 16 storey, 102-unit build-to-rent residential tower development in west London, United Kingdom, for EUR 45 million (GBP 40.3 million) on behalf of one of its institutional clients, increasing PATRIZIA’s AUM to over EUR 12.7 billion in the residential sector.
Once finished in spring 2021, the 6,800 sqm tower, which is part of the Regency Heights development in Park Royal, will include a mix of high quality one-, two- and three-bedroom apartments across 16 floors. Regency Heights is being developed on the edge of one of London’s biggest regeneration zones. Park Royal benefits from excellent transport links into the city centre via two lines of the London Underground network and its proximity to major roads into central London.
From the very beginning of its company history more than three decades ago, PATRIZIA has been very active in the residential space and is the leading independent manager of residential property in Europe.
Source : Company