Patrizia has launched its third healthcare fund with a focus on care properties in Germany.
The fund, Patrizia Social Care Fund III, which has an initial target volume of €300m and a long-term target of €700m, has already made its first acquisition: a portfolio of three new, high-quality care homes in Germany.
Jan-Hendrik Jessen, Patrizia’s head of fund management operated properties, commented: “This new fund builds on our existing track record and expertise in the German healthcare sector, a market which continues to experience strong investor demand with 2018 transaction volumes around 150% of those in 2017. The fund aims to have around 50% of its assets dedicated to assisted living properties in Germany. In addition, the fund will look to invest in select European markets as well as in Germany.”
