Term Sheet: Germany’s biggest landlord reports €3bn write-down, Patrizia’s €300m debt ambition, Precede co-founder steps down

Vonovia reports €2.7 billion in asset value declines despite rental business growth; Patrizia sets sights on a €300 million fundraise for its second credit investment vehicle; Precede's Daljit Sandhu steps down as chief operating officer; Scope Ratings warns of further pressure ahead for property companies; and more in today's briefing, exclusively for our valued subscribers.