At a glance
- The firm says the capital could support delivery of 4,000 homes for 10,000 people over time.
- Patrizia says it will expand housing activity across UK growth cities and regions.
- Patrizia's £1 billion is a target to be sourced rather than capital already raised, since the release says any pension investment would be subject to each scheme's separate assessment and decision.
Patrizia plans to raise and deploy £1 billion ($1.32 billion) for essential housing across the United Kingdom, according to an Oct. 8 release. The firm says the capital could support delivery of 4,000 homes for 10,000 people over time.
Patrizia says it will expand housing activity across UK growth cities and regions. It will work with metro mayors, combined authorities and local partners to identify opportunities that respond to local housing priorities. The approach is designed to connect housing opportunities surfaced by mayoral authorities with long-term capital, including potential investment from Local Government Pension Scheme funds and their investment pools.
Patrizia's £1 billion is a target to be sourced rather than capital already raised, since the release says any pension investment would be subject to each scheme's separate assessment and decision.
At the proposed scale, £1 billion works out to roughly £250,000 per home based on the release's own figures.
Patrizia's £1 billion is a target to be sourced rather than capital already raised, since the release says any pension investment would be subject to each scheme's separate assessment and decision.
Reported by the Fundraising desk from IREI. Published . Corrections