Patrizia Immobilien raises €250m

The Germany-based real estate investment manager has held an interim close for its latest TransEuropean fund.

Patrizia Immobilien has held a second close for its seventh TransEuropean fund, PATRIZIA TransEuropean VII, at €250 million. TEP VII will pursue the same strategy as its predecessors, investing in office, industrial and residential sectors in continental Europe and the UK, through a value-added strategy. The fund has an overall target size of €500 million.