Patrizia launches €500m Berlin residential development program

Patrizia has initiated a new joint venture to launch a €500 mln residential development program in Berlin. 

Antonio Marin-Bataller

This program is part of Patrizia's broader pan-European Living strategy, focusing on structurally undersupplied housing markets.
In partnership with Berlin-based developer Cosimo Investment Group, Patrizia aims to develop approximately 2,000 residential units over the next few years. Up to €200 mln in equity capital will be allocated from Patrizia's Living strategy within the overall €500 mln development program.
This collaboration aligns with Patrizia's strategy to invest in high-potential, value-add residential opportunities in urban markets across Europe facing housing shortages. As one of Europe's largest residential investment managers with €17.5 bn in living assets under management, Patrizia continues to expand its platform in key urban centres.
Cosimo, an experienced family-run real estate company, specialises in residential development from concept to completion. The joint venture establishes a long-term partnership where projects will be assessed individually. Cosimo will handle securing development rights and construction management, while Patrizia will oversee investment strategy, financing, and asset management.
Antonio Marin-Bataller, head of Investment Management Living at Patrizia, commented: “Berlin remains one of Europe’s most compelling residential markets, driven by sustained urbanisation and a persistent shortage of new housing supply. By forward-funding high-quality residential assets in strong micro-locations, we aim to build core-quality portfolios with attractive risk-adjusted return potential. We continue to see similar opportunities emerging across our European Living platform.”
Oral Coskun, Founder of Cosimo, commented: “Partnering with Patrizia enables us to combine local development expertise with institutional capital and long-term strategic vision. Together we will deliver high-quality housing in some of Berlin’s most attractive micro-locations.”
Berlin is currently experiencing a major housing crisis, characterised by historically low numbers of building permits and completed homes, even as rental demand stays strong. Consequently, the city has seen some of Germany's highest rent increases in its major metropolitan areas recently.