Patrizia Immobilien AG has acquired Triuva Kapitalverwaltungsgesellschaft mbH, significantly expanding its business in Germany and Europe.
The acquisition increases Patrizia’s assets under management to more than €30bn (£26.7bn).
Triuva manages around 40 funds, partners with more than 80 institutional investors and consists of around 200 employees across its 15 European locations. The Frankfurt-based company focuses on commercial real estate in the office, retail and logistics sectors as well as infrastructure. Currently, Triuva manages real estate assets of around €9.8bn.
Both parties agreed to not disclose the purchase price.
“This acquisition is a perfect fit for our growth strategy,” said Patrizia chief executive Wolfgang Egger.
“It will strengthen our European network, expand our market presence and broaden the range of products and services for our clients. We will also consolidate our position as the leading independent real estate investment manager in Europe.”
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