Patrizia acquires €100m+ residential portfolio in Germany

Patrizia has expanded its €19 bn living sector portfolio with the acquisition of 237 new-build rental apartments in the greater Stuttgart area of Southern Germany.

Neckarpark Nürtingen

The €100 mln+ acquisition was executed through two separate forward deals. 
The first deal, Neckarpark Nürtingen, involves 155 residential units (including 23 social housing apartments) developed by BPD, covering 14,140 m2 with 161 underground parking spaces. This complex, situated along the Neckar River, will feature rooftop photovoltaic systems to boost its sustainability.
The second deal, Stadteingang Ostfildern, developed by HKPE, comprises 82 residential units with an equal number of parking spaces, spanning 7,441 m2. These apartments offer views of the Neckar Valley and will also be retrofitted with rooftop PV systems, further enhancing the portfolio's strong ESG credentials. 
Torsten Bergner, head of Investment Management Living DACH at Patrizia, commented: “Whether long-term or short-term, forward deals enable us to secure sustainable residential assets in prime locations for our investors and further expand our presence in the living sector. The greater Stuttgart area is particularly promising due to its solid market fundamentals and structurally high demand for modern living space.”
For both transactions, Patrizia was advised by Case Real Estate and legal advice from Thümmel, Schütze & Partner law firm.