PATRIZIA : acquires newly built CityTwin residential building in Breda

• Recently completed turnkey project with 123 units at affordable rents
• Sustainable design with solar panels and electric car share provision

Augsburg / Amsterdam, 12 November 2020. PATRIZIA AG, the global partner for pan-European real estate investment, has acquired CityTwin, a newly built residential building in Breda, the Netherlands on behalf of its institutional clients. Seller is HIG Invest Group.

The 5,300 sq m development offers 123 units across two buildings at affordable rents of between EUR 600 and EUR 1,000 pcm and was almost fully pre-let before completion due to strong occupier interest. CityTwin has been built to a high standard of sustainability with solar panels and an electric car share provision included in the designs.

Rudo Mulder of the PATRIZIA Netherlands transaction team, commented: 'CityTwin presented a compelling opportunity to acquire a residential asset that has sustainability at its core, while providing high quality, affordable accommodation for young professionals. This aligns with the local market demands in Breda, as well as our long-term investment approach to the residential market in locations, such as Breda, where the underlying fundamentals are strong.'

PATRIZIA: A leading partner for global real assets

As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 46 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag

Contact:
Greg Morsbach
Corporate Communications
Phone: [phone]
communications(at)patrizia.ag