14.04.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA acquires retail real estate portfolio for EUR 320 million
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Acquisition
PATRIZIA Immobilien AG: PATRIZIA acquires retail real estate portfolio for
EUR 320 million
14.04.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Additional off-market transaction
PATRIZIA acquires retail real estate portfolio for EUR 320 million
- 25 retail real estate properties with more than 183,000 square metres
of leasing space
- Economically strong sites in the old German Länder with low vacancy
rates
- Well-known tenants' structure with excellent credit ratings
Augsburg, 14 April 2016. PATRIZIA Immobilien AG has acquired a premium
portfolio with retail real estate. The portfolio includes the complete real
estate portfolio of Savills Investment Management's German Retail Fund
CSGRF with 25 mainly big-box retail properties in the old German Länder let
to retailers with high credit ratings such as, for example, Edeka, Rewe,
Media Markt, Wöhrl, DM, Deichmann or Toom. The purchase price is EUR 320
million. "With the acquisition of this portfolio in an off-market
transaction, PATRIZIA has once more demonstrated its aptitude and expertise
in the area of major real-estate investments," says Wolfgang Egger, CEO of
PATRIZIA Immobilien AG.
The 25 real estate properties are scattered among 23 locations solely in
the old German Länder. Around 75 per cent of the portfolio's value is
accounted for by properties in Bavaria, Baden-Württemberg and Hamburg. With
a lettable space of 183,000 square metres, most of the properties have been
built in the period since 2005 or have been comprehensively modernised.
"The shopping centres and retail parks are located in regions with strong
economies and are usually the dominant retail trade destinations in their
respective catchment areas," explains Daniel Herrmann, head of Fund
Management Retail at PATRIZIA. "The portfolio has a very attractive
return-risk ratio already now. In spite of the usually above-average
quality of the real estate and locations, however, we see additional
opportunities to add value by means of an active management approach," adds
Herrmann.
The portfolio is being acquired on behalf of a separate account which has
been set up for this transaction. The investor is a German occupational
pension scheme. PATRIZIA significantly expanded its commitment in the
retail real estate sector in the past. As recently as January, PATRIZIA
announced that it was acquiring a portfolio with 21 properties. In addition
to this, PATRIZIA had already acquired a package with 18 retail properties
back in December as well. PATRIZIA now manages retail properties throughout
Europe with a volume of EUR 3.0 billion. In Germany, PATRIZIA is one of the
biggest lessors in the area 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.
Contact:
Investor Relations
Michael Tegeder Verena Schopp de Alvarenga
T +49 821 50910-401 T +49 821 50910-351
[email protected] [email protected]
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14.04.2016 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.
Media archive at www.dgap-medientreff.de and 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; Terminbörse EUREX
End of News DGAP News Service
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