PATRIZIA Establishes €500 Million Berlin Residential Construction Joint Venture with Developer Cosimo Investment
Augsburg. Berlin. March 9, 2026. PATRIZIA, a global real assets investment manager, has established a joint venture for new residential construction in attractive locations across Berlin, one of Europe’s housing markets with the greatest structural demand. The targeted total development volume amounts to up to €500 million.
The joint venture with Berlin-based developer Cosimo Investment Group initially plans for the development of 2,000 residential units in the coming years, with PATRIZIA providing €200 million in equity. This collaboration is part of PATRIZIA’s pan-European Living investment platform, which invests capital in promising residential real estate projects with high value-creation potential in structurally underserved urban markets across Europe.
Addressing Berlin’s Housing Shortage
With €17.5 billion in assets under management in the Living sector, PATRIZIA is one of Europe’s largest residential real estate investment managers and is systematically expanding its platform in key metropolitan areas. Antonio Marin-Bataller, Head of Investment Management Living at PATRIZIA, commented: ‘Berlin remains one of Europe’s most attractive residential real estate markets, driven by ongoing urbanization and a structural shortage of new housing. This joint venture reflects our conviction that long-term changes in urban living in European cities offer clear opportunities for value appreciation. By pre-financing high-quality residential properties in selected urban locations, we aim to build high-quality portfolios with attractive risk-adjusted return potential. And we continue to see further promising opportunities for our entire European residential real estate platform.’
Berlin has been struggling with a significant housing shortage for years. The number of building permits and completions is at a historic low, while rental demand remains consistently high. In recent years, the city has recorded one of the strongest rental growth rates among Germany’s major metropolitan areas.
Long-Term Partnership and Responsibilities
The joint venture establishes a long-term partnership that will decide on the examination and realization of individual projects. The Cosimo Investment Group will be responsible for securing development rights and construction management. PATRIZIA will be responsible for the investment strategy, financing, and asset management.
Oral Coskun, founder of the Cosimo Investment Group, explained: ‘The partnership with PATRIZIA enables us to combine local development expertise with institutional capital and a long-term strategic vision. Together, we will create high-quality living space in some of Berlin’s most attractive locations.’ Cosimo is an experienced real estate developer specializing in the development of new residential properties from concept to completion.
PATRIZIA: A Leading Partner for Global Real Assets
For more than 40 years, PATRIZIA has offered investment opportunities in real estate and infrastructure assets worldwide for institutional, semi-professional, and private investors. PATRIZIA manages assets of approximately €56 billion and employs around 800 people at 26 locations worldwide. Since 1984, PATRIZIA has been committed to children in need, since 1992 in close cooperation with Bunter Kreis in Germany for the aftercare of seriously ill children, and since 1999 through the support of the PATRIZIA Foundation. Over the past 25 years, the PATRIZIA Foundation has provided more than 700,000 children and young people worldwide with access to education, healthcare, and a safe home, giving them the chance for a better, self-determined life. Further information can be found at www.patrizia.ag and www.patrizia.foundation.
