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PATRIZIA buys Dutch, Irish properties

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PATRIZIA buys Dutch, Irish properties

disclosedproperty purchases in the Netherlands and Ireland.

Thecompany said March 30 that it acquired a residential portfolio with 1,275 unitsat 23 locations, mainly in the Randstad region of the Netherlands, forapproximately €150 million. The portfolio was acquired through itsAmsterdam-based subsidiary from a number of funds managed by Holland ImmoGroup.

Theportfolio, which also comprises properties in Amsterdam, Zwolle and Dordrecht,contains four commercial properties and more than 500 parking spaces. Theresidential units are spread across 27 building complexes. The acquisition isin line with the company's strategy of building a sustainable real estateportfolio in the Netherlands.

Accordingto a March 29 news release, PATRIZIA completed the acquisition of The Ovaloffice building in Dublin for €145 million. The 189,143-square-foot asset islocated in Ballsbridge district, and is fully let to 15 tenants. The buildingalso has other amenities, including a retailer, cafe, gym and parking space.The sale was initially reportedearlier in March.

Bothacquisitions were made on behalf of institutional clients.