The parties have agreed not to disclose the sales price. The housing portfolio has floor space of approximately 35,000 square metres. It was part of the Swedish real estate fund Hyresbostäder i Sverige III Gul AB acquired by Patrizia in mid-May, which comprised more than 14,000 apartments and had an investment volume of approx. €900 million.

Patrizia had already announced at that time of the purchase that it would first include the residential portfolio in its own portfolio as a bridge investment and then make it available to its clients and third parties as a potential investment.

“This placement process has begun successfully with the sale of the Umea portfolio and will be continued systematically over the next 12 to 18 months,” says CFO Arwed Fischer.

Following the sale of the 630 apartments in Umea, the remaining residential portfolio is now focused in Germany. Alongside Berlin, where more than 5,000 apartments are located alone, the portfolio covers the metropolitan regions of Munich, Stuttgart, Frankfurt am Main, Cologne, Dusseldorf and Hamburg, as well as almost all regional capitals and metropolitan areas in West Germany. The residential portfolio is in good technical condition. Vacancy is less than 4%.