PATRIZIA Immobilien AG announces that it has acquired TRIUVA Kapitalverwaltungsgesellschaft mbH, significantly expanding its business in Germany and Europe. Both parties agreed to not disclose the purchase price.
“This acquisition is a perfect fit for our growth strategy. It will strengthen our European network, expand our market presence and broaden the range of products and services for our clients. We will also consolidate our position as the leading independent real estate investment manager in Europe,” explains Wolfgang Egger, CEO of PATRIZIA Immobilien AG.
TRIUVA is one of the leading providers of real estate investments in Europe. The company manages around 40 funds, partners with more than 80 institutional investors and consists of around 200 employees across its 15 European locations. The Frankfurt-based company focuses on commercial real estate in the office, retail and logistics sectors as well as infrastructure. Currently, TRIUVA manages real estate assets of around EUR 9.8 billion.
The acquisition increases PATRIZIA’s assets under management by around 50 per cent to more than EUR 30 billion, placing the company firmly amongst the top 10 European real estate investment managers. Furthermore, this will broaden PATRIZIA’s product range, enabling institutional and private investors to access new markets, asset classes and risk profiles with their investments.
“This acquisition increases the stability of PATRIZIA’s business model through greater diversification and by ensuring an even greater share of our revenue comes from recurring asset management fees,” adds Wolfgang Egger. “We also offer TRIUVA and its clients a stable ownership structure and new opportunities. With our sound capital base, we will continue with our successful strategy and pursue attractive opportunities which benefit our investors.”
Source : PATRIZIA Immobilien