Patrizia AG

01/09/2025 | Press release | Distributed by Public on 01/09/2025 07:33

PATRIZIA und Revive Fund Management beginnen eine Partnerschaft und investieren 75 Mio. Euro in Umwandlung von Büros zu bezahlbarem Wohnraum in Benelux

  • The partnership brings together two firms committed to making a positive impact within communities and deliver better environmental, social and governance outcomes
  • This is the third programmatic JV for PATRIZIA Sustainable Communities, building on successful partnerships in the UK and Ireland, this time focusing on a pipeline of projects beginning in Brussels
  • This latest impact investment strategy aims to reposition obsolete offices to deliver around 1,000 affordable housing units across the Benelux for lower to middle-income households, while providing improvements to local social infrastructure

Augsburg, Copenhagen, Ghent, Brussels. 9 January 2025. PATRIZIA, a leading partner for global real assets, and Revive Fund Management, a certified B-Corp with an established presence in the Benelux housing sector, have launched a new joint venture (JV) aiming to invest €75 million of equity to develop environmentally and socially sustainable housing for the Benelux's affordable housing sector.

The launch marks PATRIZIA Sustainable Communities' third programmatic JV, following similar projects in the UK and Ireland. Sustainable Communities is the firm's first SFDR Article 9 strategy fully dedicated to impact investing, with an ambition to provide thousands of affordable and sustainable homes in major European metropolitan areas. To date, the strategy has invested in six affordable and social housing projects, delivering a pipeline of around 1,000 apartments and homes for lower-to-middle income residents.

The JV will focus on the conversion of depleted and obsolete office buildings into build-to-sell multi-family homes to help address the severe shortage of good quality housing in locations across the Benelux, where housing affordability is an acute issue.

To address the energy-inefficient building stock in the planned locations, sustainability is at the core of the strategy, with all homes developed by the platform targeting EPC A and a zero operational carbon footprint, as well as ambitious embodied carbon targets. PATRIZIA Sustainable Communities' environmental credentials have earned it a 5* GRESB rating in 2024, with a score of 99 points (out of a possible 100) seeing it top its peer group of impact investors.

In this JV with Revive, each development will also have ecological initiatives, enhance biodiversity and also aim to make a positive impact on local communities through social initiatives, such as fostering community engagement and wellbeing to address social isolation, a major issue in Belgium particularly.

In addition to its focus on impact investing, PATRIZIA Sustainable Communities has a fundamental value-add component, with the strategy currently outperforming its12% IRR target, firmly placing it at the heart of PATRIZIA's mid-term strategy to grow to €100bn in AUM by 2030.

Marleen Bekkers, Fund Manager of PATRIZIA Sustainable Communities says: "Our partnership with Revive leverages their extensive expertise in the Benelux affordable housing market and sustainable construction. Together, we are committed to addressing the urgent need for high-quality, affordable housing for key workers, delivering impactful solutions where they are most needed. The platform has the potential to deliver real social value, as well as attractive risk-adjusted returns, strengthening our purpose of building communities and sustainable futures. The launch of this JV marks an exciting next step in our ambition to house 7,500 people in affordable and social homes through our pan-European impact investment strategy."

Nicolas Bearelle, Executive Chairman at Revive, adds: "In the current economic environment, the need for housing options that connect communities has never been bigger. Together with PATRIZIA, we aim to fulfil our ambition of addressing the ever-growing shortage of affordable housing in the Benelux. This strategy will set a benchmark for delivering environmentally and socially sustainable housing for a market segment that today is undersupplied."

PATRIZIA: A leading partner for global real assets

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 41 years. PATRIZIA manages over EUR 55bn in assets and employs around 900 professionals at 27 locations worldwide. PATRIZIA has been making an impact since 1984 by helping children in need, since 1992 in close collaboration with Bunter Kreis ("colourful circle") in Germany for aftercare of children with severe diseases and since 1999 through its support for the PATRIZIA Foundation. The PATRIZIA Foundation has given more than 700,000 children and young people worldwide access to education, healthcare, and a safe home to get the chance to live a better self-determined life over the last 25 years. You can find further information at www.patrizia.ag and www.patrizia.foundation

REVIVE: A leading European 'Brown to Green' specialist

Revive is a European specialist in urban regeneration and brownfield development. Revive regenerates redundant assets into lively neighbourhoods with a focus on new ways of living and working. All Revive sites are climate-neutral in use and the climate impact is also minimized during the construction process. In addition, Revive invests in increasing biodiversity and in infrastructure to improve the physical and mental well-being of the site's users. In recognition of its sustainable and transparent approach, Revive has been the first developer worldwide to be awarded the B-Corp label in 2012.

Since 2009 Revive developed over 3.000 residential units and restored over 100 ha of nature. Revive Fund Management is managing only SFDR Art 9 funds, maximizing positive impact and delivering the transition on the built environment.

More info at www.revive.world

Contact

Matthew Richards | Director | Corporate Communications

Phone: +44 7471 999746

Email: Matthew.Richards(at)patrizia.ag