Patrizia Immobilien

#5030

Rank

$852.53M

MarketCap DE

DE Germany

Country

Summary
A leading partner for global real assets With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 38 years. PATRIZIA manages more than EUR 56 billion in assets and employs over 1,000 professionals at 28 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped around 250,000 children in need worldwide gain access to education and thus, has given them the chance of a better life over the last 23 years.

History

The company was founded in 1984 by Wolfgang Egger. He gained his first experience of the real estate sector with a summer job on a construction site while in his teens. At the age of 19, he built a house, which he then went on to sell. He used the proceeds from the sale to buy Patrizia's first apartments. Within three years of its founding, Patrizia was privatizing 100 apartments per year. The company's focus was on Munich and Augsburg. Patrizia's strategy involved first buying apartments in Munich's Olympia-Pressestadt, along with apartments owned and used by Bayer AG and other companies, as well as large residential complexes in Augsburg, Obergiesing, Perlach and Schwabing before selling the apartments, primarily to their tenant occupants. Egger has since explained that one driving motivation was to turn tenants into homeowners. This gives individuals "financial freedom later in life and at the same creates value to society."Following the company's IPO in 2006, Patrizia acquired residential real estate in major German cities and conurbations, expanding its portfolio to include around 13,000 apartments. At the same time, the company diversified its services and launched Spezialfonds for institutional investors. In 2011, Patrizia took over Hamburger LB Immo Invest GmbH, an initiator of commercial real estate Spezialfonds, and went on to expand the business. A co-investment with a consortium of pension and insurance funds enabled Patrizia to acquire LBBW Immobilien GmbH , owner of around 21,500 apartments, for €1.435 billion in February 2012.Led by Patrizia, a co-investment consortium of pension funds, insurance companies and savings banks acquired 92% of the shares in GBW AG in April 2013. GBW AG's housing stock totaled approximately 32,000 apartments in Bavaria; the shares were acquired for €2.45 billion.

With the takeover of the British Tamar Group the previous year, Patrizia simultaneously expanded its international operations.After the integration of Rockspring Property Managers LLP, Triuva Kapitalverwaltungsgesellschaft mbH and Sparinvest under one common Patrizia brand in 2018, Patrizia acquired a strategic stake in Evana, an artificial intelligence business, as part of its stated goal of becoming "the technology leader in European real estate investment management." In January 2019, Patrizia announced the acquisition of Japan-based Kenzo Capital Corporation. Kenzo is an established local platform serving European clients interested in investing in Japanese residential real estate through a dedicated fund that was launched in 2017 in cooperation with Patrizia.In May 2019, Patrizia took an equity interest of 10 per cent in Control.IT, a company that produces asset and portfolio management software. In June 2019, Patrizia Immobilien AG changed its legal name, in line with a resolution of that year's Annual General Meeting, to ‘PATRIZIA AG’. “The new name of the company and the renouncement of the German addendum Immobilien takes into account our stronger international orientation we have focused on for some time now,” commented Wolfgang Egger, CEO of PATRIZIA.In recent years, Patrizia has focused on digitalisation, innovation and new technologies. Apart from the stake in Evana and Control.IT, Patrizia announced in October 2019 that it had obtained a strategic stake in Cognotekt, a Cologne-based artificial intelligence platform that has developed a unique technological approach for Natural Language Processing. Cognotekt's scientific technology is seen as having the potential to further enhance the operational and corporate data management processes of Patrizia in collaboration with Evana. Soon after Patrizia created a strategic partnership with WiredScore, a global rating scheme for digital connectivity across commercial and residential real estate.In February 2020, Patrizia partnered with pioneering PropTech VC Pi Labs and has participated in Pi Labs’ third fund which will invest in early stage PropTech start-ups across Europe. In June 2020, the company entered into a partnership with Taronga Ventures in the close of its RealTech Ventures Fund, which invests into proptech in the Asia Pacific region. In November 2020, Patrizia expanded its global innovation ecosystem and scouting approach with an investment in the Camber Creek PropTech Venture Capital Fund. Camber Creek has a strong focus on North America.In September 2021, Patrizia announced the acquisition of Whitehelm Capital, an international infrastructure manager, which triples Patrizia infrastructure AUM to circa EUR 5 billion. In June 2022, Patrizia announced it had raised €50 million to invest in the Sustainable Future Ventures , a new fund that invests in property technology that it believes will drive sustainability in the built environment. The SFV is the first in a new fund series .

“Another key pillar of our strategy is the continued focus on technology. We want to promote technologies within the PropTech industry that make the built environment more sustainable,” Christoph Glaser, the Chief Financial Officer, said.


Mission
We strive to be a trusted partner for our clients, helping them to succeed in their long-term real estate investment strategies. We identify attractive investment opportunities and manage assets professionally, efficiently and with the highest level of integrity.

Vision
To be the partner of choice for institutional investors in the European real estate market, by leveraging our extensive experience, passionate team, and extensive network to create value for our investors.

Key Team

Mr. Simon Woolf (Chief HR Officer & Member of Management Board)

Mr. Karim Bohn (Advisor)

Mr. Christoph Glaser (CFO & Member of Management Board)

Mr. Martin Praum (Sr. MD of Investor Relations and Head of Investor Relations & Group Reporting)

Bernhard Magg (Gen. Counsel)

Mr. James Muir (Head of Strategic Investments)

Mr. Sebastian Lohmer (Managing Director)


Recognition and Awards
Patrizia was named ‘Best Investment Manager 2019’ at the Propertyeu Awards; 'Best Global Industrial & Logistics Real Estate Platform’ at the PropertyEU Investor and Funder Awards 2019; and 'Best Real Estate Advisor 2018 – Europe’ at the Institutional Real Estate Awards Europe.

References
Patrizia Immobilien
Leadership team

Mr. Wolfgang Egger (Founder, CEO & Director)

Mr. Thomas Wels (Co-CEO & Member of the Management Board)

Dr. Manuel Kasbauer (Chief Technology & Innovation Officer and Member of the Management Board)

Products/ Services
Real Estate
Number of Employees
1,000 - 20,000
Headquarters
Augsburg, Bayern, Germany
Established
1984
Net Income
20M - 100M
Revenue
100M - 500M
Traded as
P1Z.VI
Social Media
Sun Mar 03 2024
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