Patrizia and Mitsui completed the acquisition of a majority stake in Parkwise for $250m.

Patrizia, a German real estate investment manager, and Mitsui, a Japanese general trading company, completed the acquisition of a majority stake in Parkwise, a startup company developing modern parking facilities in Philippines, for $250m. “We are excited to introduce Parkwise to the Philippine market, as the adoption of climate-friendly mobility solutions is a critical element of the low-carbon transition to meet net zero goals. Our partnership model ensures that we bring unparalleled expertise and experience to this venture. Together, we are committed to enhancing mobility and co-located social infrastructure, supporting the Philippines’ rapid growth in a sustainable manner,” Saji Anantakrishnan, PATRIZIA Head of Infrastructure for Australia and Asia.