PATRIZIA, an investment manager in global real assets, has launched a Berlin residential development programme through a new joint venture, targeting a total development volume of up to EUR 500 million in one of Europe’s most structurally undersupplied housing markets.
PATRIZIA has partnered with Berlin-based developer COSIMO Investment Group (“COSIMO”) to develop an initial pipeline of around 2,000 residential units over the coming years, with up to EUR 200 million of equity capital to be deployed through PATRIZIA’s Living strategy within the overall EUR 500 million development programme.
The cooperation forms part of PATRIZIA’s pan-European Living investment platform, which is deploying capital into high-conviction, value-add residential opportunities in structurally undersupplied urban markets across Europe.
With EUR 17.5 billion in Living assets under management, PATRIZIA is one of Europe’s largest residential investment managers and continues to grow its platform across major urban markets.
Antonio Marin-Bataller, Head of Investment Management Living at PATRIZIA, commented: “Berlin remains one of Europe’s most compelling residential markets, driven by sustained urbanisation and a persistent shortage of new housing supply. This joint venture reflects our conviction in value-add Living opportunities aligned with the long-term Living transition shaping European cities. By forward-funding high-quality residential assets in strong micro-locations, we aim to build core-quality portfolios with attractive risk-adjusted return potential. We continue to see similar opportunities emerging across our European Living platform.”
COSIMO is a family-run and highly experienced real estate company specialising in new residential development from initial concept to completion.
Oral Coskun, Founder of COSIMO, commented: “Partnering with PATRIZIA enables us to combine local development expertise with institutional capital and long-term strategic vision. Together we will deliver high-quality housing in some of Berlin’s most attractive micro-locations.”
Berlin currently faces a significant housing shortfall, with building permits and completions at historic lows while rental demand remains resilient. Over recent years, the city has recorded some of the strongest rent growth among Germany’s top metropolitan markets.
The joint venture establishes a long-term partnership structure under which projects will be evaluated and executed on an asset-by-asset basis. COSIMO will be responsible for securing development rights and managing construction; PATRIZIA retains responsibility for investment strategy, financing and asset management oversight.
PATRIZIA
PATRIZIA has been providing investment opportunities in smart real assets for institutional, semi-professional, and private investors for more than 40 years, focusing on real estate and infrastructure. PATRIZIA’s investment solutions are driven by the “DUEL” megatrends - digital, urban, energy and living transitions - and capitalise on the opportunities arising from these transformative global shifts. PATRIZIA currently has approximately EUR 56bn in assets under management (AUM) and employs around 800 professionals across 26 locations worldwide.
PATRIZIA has been committed to making a positive impact since its founding. In 1992, the company began collaborating closely with Bunter Kreis (“Colourful Circle”) in Germany to provide aftercare for children with severe diseases. Since 1999, the PATRIZIA Foundation has provided more than 750,000 children and young people worldwide with access to education, healthcare and a safe home, enabling them
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