Columbia Threadneedle Real Estate, the real estate investment and asset management specialist of Columbia Threadneedle Investments, today announces the completion of the merger of PATRIZIA Hanover Property Unit Trust (PATH) into the Threadneedle Property Unit Trust (TPUT), following approval from PATH shareholders, creating an enlarged, diversified UK real estate strategy with assets of approximately £1.5 billion.
The transaction reflects ongoing consolidation across the UK property funds market. Columbia Threadneedle was selected as the preferred long-term partner following a comprehensive review by PATRIZIA, assessing investor priorities, fund characteristics, portfolio fit and operational capabilities.
Both TPUT and PATH are long-established UK property funds, with PATH having been launched in 1967. The portfolios align closely, adopting a similar proactive management approach and strong sustainability focus, supporting the rationale for integration.
The merger delivers significant benefits to all investors, improving liquidity and asset/tenant diversification, including lot size diversification and supporting improved long-term resilience. The merged portfolio provides opportunities to enhance the value of the underlying properties through active asset management, particularly at the two largest assets in Aylesbury and Wetherby, continuing the proactive management approach adopted by PATRIZIA.
The transaction leveraged Columbia Threadneedle’s recent track record in fund consolidation, following the successful integration of assets from the UK Property Fund into TPUT last year.
Source: press release received on 2 July 2026