The portfolio will target office, hotel and residential assets in leading European cities and “select urban locations”.
According to research by Patrizia, ‘Patrizia Insight’, the investment manager sees London as the ‘out-performer’ in the residential market, followed by Paris, Stockholm and Hamburg.
In the report, the firm included a European city matrix, ranking the long-term attractiveness and liquidity within 119 European cities and predicted achievable returns of 6-8 percent over the next five years.
Stefan Glossner, head of fund management value add at Patrizia, said: “We are very happy that we obviously have done convincing work on our existing core portfolio being managed for this client leading the pension fund into placing even more trust in Patrizia’s expertise with this value add mandate.”
Glossner added: “As a dedicated investment manager, once the assets are secured we will add value to the properties through active asset management.”