German real estate investment firm acquires crowdfunding platform

February 4, 2020
Share this Post: 

Patrizia AG has acquired BrickVest which had recently gone into administration. 

The German-based Pan-European real estate investment company has bought BrickVest, a proptech business that was created in 2014 to enable individuals to participate in institutional-grade real estate deals.

BrickVest raised close to £12 million (€14.1 million) and made a number of real estate deals before going into administration.

It is the latest move by Patrizia into the burgeoning proptech sector. Last year, it invested in WiredScore alongside British Land, and in 2018 invested in artificial intelligence company Evana.

Patrizia said it would “promote the further development of BrickVest as an independent and open industry platform”.

Wolfgang Egger, CEO of Patrizia, said:

“We are convinced that BrickVest has the potential to become the go-to global and independent industry platform of choice for real assets.

“Therefore, it is essential for us that BrickVest remains independent and provides full transparency, convenient access as well as much broader choice to all investors."

Read more here

Read more

February 4, 2020

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 1932382865
$13 Billion Adevinta Takeover Deal To Go Ahead After 11th Hour Drama

The acquisition bid made by Aurelia Bidco for the Oslo-listed online marketplace operator Adevinta has finally reached the approval threshold...

Read More
Shutterstock 2245599643
Zillow Adds Individual Room Listings to Its Portal

The U.S. real estate portal Zillow has announced the addition of individual room for rent listings to its portal. The...

Read More
Blank 705 X 430 5
Immowelt's German Parent Company Rebranded to 'AVIV Germany'

The local parent company of the German real estate portal Immowelt has changed its name to 'AVIV Germany'. Immowelt is...

Read More
Untitled Design 15
REA Group Sees Strong Domestic Growth in HY1 Results

The Australian real estate marketplace operator REA Group has released its results for the first half of its 2024 financial...

Read More