15 February 2017
Augsberg
Reporter: Theo Andrew

Patrizia preliminary results exceed earnings forecast


Patrizia, the pan-European investment manager, exceeded its profit forecast for 2016 with an expected operation income of €283 million, compared to the forecast of €265 million.

Patrizia achieved a total real estate transaction volume of €7.2 billion in 2016, closing transactions of €5.1 billion and signing off on a further €2.1 billion, the majority of which are expected to be closed in 2017.

Residential and commercial real estate of €3.2 billion was acquired on behalf of several investment vehicles, and sale of properties generated €1.9 billion.

Assets under management increased from €16.6 billion in 2015 to €18.6 billion by year-end 2016.

In addition, €2.2 billion of funds were raised from global investors in 2016, up from €1.5 billion in 2015.

The performance was partly attributed to a strong Q4 2016, and also to increased transaction volumes and higher management fees. Management fees totalled €189 million in 2016, up from €165 million in 2015, representing an increase of 14 percent.

Karim Bohn, CFO of Patrizia said: “The size and quality of Patrizia’s results in recent years confirms the successful implementation of the European strategy and the scalability of the operational platform.”

He added: “This achievement demonstrates that Patrizia is today perceived as one of the leading investment managers in Europe and first choice for European investments, including for global investors.”

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