Germany's Patrizia Seeks €1 Billion for European Housing Fund
By Esteban Duarte and
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German asset manager Patrizia SE is seeking to benefit from Europe's chronic housebuilding shortfall by raising €1 billion ($1.05 billion) for its latest residential real estate fund, according to people familiar with the matter.
The fund, dubbed TransEuropean Living, is targeting returns in the range between 13% and 15%, said the people, asking not to be identified discussing a confidential plan. The fund's strategies will include debt financings, and it plans to invest in single-family and multifamily housing as well as alternative residential spaces such as student accommodations. A representative for Patrizia declined to comment.
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