European property investment group Patrizia has reported a strong first half of 2017, delivering an operating income of €35.1m (£31.7m).
This compares with €24.1m during the same period last year. During the period, it also grew its assets under management to €19.2bn, which is a €600m increase on the same period last year.
It said it has €200m of planned disposals, which are mostly expected to complete in the second half of 2017.
In addition, the group has a further pipeline of contractually agreed acquisitions totalling more than €700m.
In the first half of 2017, total fee income increased by 13.1% to €88.1m, compared with €77.8m during the first half of 2016.
It has also enhanced its liquidity position to take advantage future opportunities by successfully raising €300m of debt finance with the well-received and over-subscribed issue of a bonded loan.
Patrizia now has a liquidity of €737.5m which it has said will be available for further organic and inorganic growth.
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