02.11.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA acquires 223,000 sq m residential portfolio across western Germany
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Acquisition
PATRIZIA Immobilien AG: PATRIZIA acquires 223,000 sq m residential portfolio
across western Germany
02.11.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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Off-market transaction in the German residential market
PATRIZIA acquires 223,000 sq m residential portfolio across western Germany
- A multi hundred million Euro transaction
- 3,488 residential units are located solely in western Germany
- Concentration in North Rhine-Westphalia, Lower Saxony and Bavaria
- Low vacancy rate
Augsburg, 2 November 2016. PATRIZIA Immobilien AG announces that it has
completed the acquisition of 223,000 sq m of residential properties in
western Germany. The transaction was finalised on behalf of a major German
insurance company for a multi hundred million Euro. "There continues to be
high demand for good quality rental accommodation in Germany, as proven by
the high occupancy rate across this geographically diverse portfolio,"
comments Philipp Schaper, Group Head of Transactions at PATRIZIA Immobilien
AG. "We remain interested in identifying the most compelling investment
opportunities across Europe, and this most recent acquisition is a strong
endorsement of our ability to identify, acquire and manage such assets."
The portfolio was originally owned by several private Dutch investor funds.
The 223,000 sq m portfolio of assets is currently 97% let and comprises
3,488 residential units across 49 properties, located in North Rhine-
Westphalia, Lower Saxony and Bavaria with almost 300 units in Cologne, more
than 500 in Hanover and around 100 in Munich. In addition further units are
located in Hamburg, Hesse, Baden-Württemberg and Berlin.
"We acquired these assets having identified the strong fundamentals that
underlie the portfolio through the low void rate and strong locations, and
it is in line with our buy-and-hold strategy," comments Peret Bergmann,
Managing Director of PATRIZIA WohnInvest. "Further to this we are also
planning to privatise individual properties in order to deliver meaningful
income to our investors."
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 clients and retail clients 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
The Managing Board
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: 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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02.11.2016 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
End of News DGAP News Service
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515853 02.11.2016
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