In 2006 Patrimonium saw the potential of the Berlin and Leipzig real estate markets, launched the Patrimonium German Opportunity Fund (PGOF) and invested in residential real estate in Berlin, the surroundings of Berlin and Leipzig.
The fund pursues an investment strategy focusing on residential real estate in eastern Germany. PGOF holds a portfolio of residential properties with an asset value of roughly CHF 116 m.
In 2021, PGOF secured a residential building in Berlin with the potential of a new courtyard construction and story elevations. Moreover, Patrimonium’s active asset management approach allowed to decrease the vacancy rate to an all-time low of 2.7%.
PGOF is now working on finalizing the building application to receive a building permit for the construction of 20 apartments and invest a volume of ca. EUR 4.0 m. It is planned to launch the construction in autumn 2022. Furthermore, PGOF is evaluates, together with the respective authorities, story elevations for the existing buildings in Berlin.
(Bild Daniel Koehler)