28.10.2015
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA acquires premium retail portfolio in the Netherlands
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real
Estate/Miscellaneous
PATRIZIA Immobilien AG: PATRIZIA acquires premium retail portfolio in
the Netherlands
28.10.2015 / 07:30
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PATRIZIA acquires premium retail portfolio in the Netherlands
Acquisition as part of recently introduced high street retail property fund
- Package includes 145 high street retail, residential and office units
- Buying price EUR 340 million
- Over 100 retail properties alone, in prime shopping locations
Augsburg/Amsterdam, 28 October 2015. PATRIZIA Immobilien AG has acquired a
premium property portfolio encompassing 145 retail, residential and office
units in the Netherlands. The transaction was completed through its
subsidiary PATRIZIA Netherlands. The buying price was approx. EUR 340
million. The acquisition was carried out on behalf of institutional
investors for a special property fund, which was only set up recently,
called PATRIZIA Dutch High Street Retail Fund 1. "This off-market
transaction has demonstrated once again that our European structure puts us
in an ideal position to identify attractive investment options on behalf of
our customers, even beyond on-market options," states Wolfgang Egger, CEO
of PATRIZIA Immobilien AG.
The acquired portfolio includes 107 retail properties alone, in prime
shopping locations in urban centres. For example: Kalverstraat in
Amsterdam, Spuistraat in The Hague, Ketelstraat in Arnhem, Demer in
Eindhoven, Eindstraat in Breda and Grote Houtstraat in Haarlem. The package
also includes 35 residential properties and 3 office villa's. Around two
thirds of the retail properties stand in the top 20 retail locations in the
Netherlands and 89 per cent even count among the 40 most sought-after
retail locations in the country. The main tenants include many well-known
international retail chains, among them H&M, Zara, C&A, Adidas, Vero Moda,
Foot Locker and Apple - although the tenants also include domestic chain
stores and some regional retailers.
Traditional city centres and their high street shopping areas are still the
most important retail locations in the Netherlands, primarily due to strict
approval processes and official regulations. As a result, the acquired
retail properties are considered highly safe investments in the most
important shopping areas in the country. "These are the kinds of trade
properties that will remain strong whatever happens with respect to
long-term online shopping trends," states Peter Helfrich, Managing Director
of PATRIZIA Netherlands. "The retail trade environment is going through a
period of change, reflected by rising demand for top shopping locations, so
this makes these properties excellent in terms of value retention,"
continues Helfrich. In keeping with this, there was strong demand for the
recently introduced special property fund PATRIZIA Dutch High Street Retail
Fund 1.
This most recent acquisition marks a continuation of the PATRIZIA strategy
of establishing a sustainable property portfolio in the Netherlands in the
long term. Only last year, PATRIZIA took over a portfolio of around 5,500
flats from a Dutch housing association, sealing the biggest transaction on
the Dutch property market to date. PATRIZIA recently reached an agreement
with a Dutch development corporation to acquire around 600 flats in the
south of The Hague upon their completion. This follows an agreement signed
by PATRIZIA with the authorities in The Hague in the spring of this year,
confirming plans to make an investment in 150 to 200 new flats in the city
per year.
PATRIZIA Immobilien AG:
With 800 employees in more than ten countries, PATRIZIA Immobilien AG has
been active on the real-estate market as an investor and service provider
for more than 30 years. PATRIZIA's range includes the purchase, management,
value increase and sale of residential and commercial real estate over own
licensed investment platforms. As a recognised business partner of large
institutional investors and private investors, the Company operates in all
major European countries and covers the entire value. At present, the
Company manages real estate assets worth EUR 17 billion, primarily as a
co-investor and portfolio manager for insurance companies, pension fund
institutions, sovereign funds, savings and cooperative banks. For further
information, please visit www.patrizia.ag.
Investor Relations
Margit Miller
T +49 821 50910-369
Verena Schopp de Alvarenga
T +49 821 50910-351
[email protected]
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service of EQS Group AG.
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Language: English
Company: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg
Germany
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: [email protected]
Internet: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News Service
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