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PATRIZIA acquires two new buildings in Lower Saxony, Germany

Juan Peñaloza 06/04/2014

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Investor Information

PATRIZIA Immobilien AG has acquired a portfolio of two new buildings for nursing homes, including residential units with services in Lower Saxony. The facilities are located in Cloppenburg and Wildeshausen.

The houses have a total of 287 full-time nursing homes and 35 day care centers, as well as 91 apartments. The purchase is made for the fund "PATRIZIA Pflege-Invest Deutschland I". The seller of the two properties is a developer specializing in nursing homes in Bremen.

Patrizia Immobilien AG (or PATRIZIA Immobilien AG as the company writes) based in Augsburg, Germany, is a global provider of real estate investments in Europe that is listed on the SDAX stock exchange. The company has approximately 650 employees. Patrizia's commercial activities include, among others, the acquisition, administration, value optimization and sale of residential and commercial properties.

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