28.07.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA acquires another major retail portfolio
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Acquisition
PATRIZIA Immobilien AG: PATRIZIA acquires another major retail portfolio
28.07.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Acquisition of the "Alster 10" portfolio with more than 100,000 square
metres of retail space
PATRIZIA acquires another major retail portfolio
- The purchase price is over EUR 200 million
- Ten retail properties at established locations with long-standing
customer ties
- Total annual lease of approximately EUR 14 million
- Remaining contractual term greatly above average and anchor tenants
with excellent creditworthiness
Augsburg, 28 July 2016. PATRIZIA Immobilien AG has acquired a top-value
portfolio with more than ten spacious retail properties for over EUR 200
million. The properties are all situated in well-established retail
locations in the old German Länder. "Alter 10 is a top-quality speciality
retailer portfolio dominated by the grocery retail trade that only very
rarely comes onto the market in this form. That is why we are very pleased
to have been able to take advantage of this opportunity," comments Daniel
Hermann, Head of Fund Management Retail at PATRIZIA. The purchase was
performed for the real estate fund "PATRIZIA Handels-Invest Deutschland
II", which had already purchased two comparably large portfolios back at
the end of 2015 and has now swelled to a total volume of around EUR 750
million through the addition of Alster 10. The fund has thus been fully
invested. The seller is Newport Holding, headquartered in Hamburg. The sale
procedure was managed by Wrangel Real Estate.
Looking at the portfolio in more detail, it consists of five dominant
special retail centres, three large consumer markets and two smaller
locations with system restaurants. The anchor tenants in the portfolio are
all highly reputed retailers with high credit ratings such as real, REWE,
Kaufland and Edeka. In sum total, the portfolio as lettable space
comprising approximately 110,000 square metres. The real estate is situated
in well-established retail locations with long-standing customer ties and
strategically important dominance. About 85 per cent of the portfolio was
completely refurbished, expanded and switched over by tenants to align with
their newest sales strategies before being sold to PATRIZIA - or is in the
process of doing so now.
The portfolio is concentrated in North Rhine-Westphalia. Additional
properties are located in Schleswig-Holstein, Lower Saxony, Bavaria, Baden-
Württemberg and Mecklenburg-Western Pomerania. The average remaining lease
term is roughly twelve years. About 75 per cent of the lease agreements are
generated by highly reputed retail companies like real, Edeka, Kaufland and
REWE. Other tenants of importance include big-name retail chains from the
drugstore and fashion branches.
PATRIZIA has heavily expanded its commitment in the area of retail real
estate in the past, with this being the fourth major transaction within the
last twelve months. PATRIZIA now manages a volume of around EUR 3.2 billion
in real estate properties throughout Europe. In Germany alone, PATRIZIA is
one of the biggest lessors in the field of retail properties.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager on the real
estate market in 15 European countries for more than 30 years. PATRIZIA's
range includes the acquisition, management, value increase and sale of
residential and commercial real estate over own licensed investment
platforms. As one of the leading real estate investment companies in Europe
PATRIZIA operates as a respected business partner of large institutional
investors and retail investors in all major European countries. Currently,
the Company manages real estate assets worth around 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.
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstraße 26
86150 Augsburg
Listed: Official Market Frankfurt am Main (Prime Standard)
ISIN: DE000PAT1AG3
WKN: PAT1AG
Contact
Investor Relations
Michael Tegeder
T +49 821 50910-401
[email protected]
Verena Schopp de Alvarenga
T +49 821 50910-351
[email protected]
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28.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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, Tradegate Exchange; Terminbörse EUREX
End of News DGAP News Service
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486793 28.07.2016
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