Immobilien has bought a 6,800sqm shopping centre in the Netherlands for one of its real estate funds.
The 鈧�40bn real estate fund manager said it acquired the convenience-based shopping centre in the Schelfhorst district of the Dutch city of Almelo for its Handels Invest Europa I fund.
The asset was acquired from a joint venture of Dreef Beheer and Segesta Groep, Dutch real estate investors and developers for an undisclosed sum.
Patrizia said the acquisition increases the fund鈥檚 volume to around 鈧�230m
The 25-unit shopping centre is fully occupied.
Emile Poort, Patrizia鈥檚 head of transactions in Benelux, said: 鈥淭his acquisition is a perfect fit to Patrizia鈥檚 retail strategy to acquire convenience-based shopping centres which cater for the daily needs of the surrounding area.
鈥淭he asset in Schelfhorst offers an attractive risk profile for our clients due to its historically low vacancy rates.鈥�
