Patrimonium takes over Sustainable Real Estate AG
Sustainable Real Estate manages a fund with total assets of almost half a billion Swiss francs and has a partnership with a German fund company.
Zug-based Patrimonium Holding AG is taking over Zurich-based Sustainable Real Estate AG as of July 1. Subject to approval by Finma, Patrimonium Asset Management will act as fund management company and asset manager of the listed real estate fund Sustainable Real Estate Switzerland with total assets of around CHF 475 million as of January 1 next year. With the takeover of Sustainable Real Estate AG, Patrimonium is also integrating its partnership with the German company Quadoro Investment GmbH. Sustainable Real Estate acts as a distribution partner and sustainability advisor for three open-ended real estate funds with total assets of around CHF 785 million.
Sustainable Real Estate AG is also the entrepreneurial shareholder of Sustainable Real Estate Investment Sicav and asset manager and distributor of the listed real estate fund Sustainable Real Estate Switzerland. The company has a Finma license as a manager of collective assets.
«This acquisition enables Sustainable Real Estate Investments Sicav to achieve significant economies of scale in the areas of property management, development, sourcing and construction management», writes Patrimonium in a press release. «Patrimonium strengthens its position in the real estate market and benefits from Sustainable Real Estate AG's know-how in the sustainability sector». Further efficiency potential «as well as the possibilities and interest in merging real estate assets that are currently managed separately» are being examined, the statement continues.
