12.07.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA Awarded EUR 300 Million Separate Account Mandate
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Alliance
PATRIZIA Immobilien AG: PATRIZIA Awarded EUR 300 Million Separate Account
Mandate
12.07.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Major German insurance group investing through PATRIZIA
PATRIZIA Awarded EUR 300 Million Separate Account Mandate
- Mandate to acquire well located residential investments Europe-wide
- Acquisition of a residential development complex in Copenhagen already
achieved
Augsburg, 12 July 2016. PATRIZIA Immobilien AG has been awarded a separate
account mandate by a major German insurance company to invest EUR 150
million of equity to create a circa EUR 300 million portfolio of well
located residential properties throughout Europe. One asset has already
been acquired and additional acquisitions are currently being considered.
"We believe this mandate is recognition of our specialist expertise and the
strong track record that PATRIZIA offers across Europe as a business
partner, where we can offer the best risk diversification to our clients,"
says Jochen Reith, Group Head of Institutional Clients, DACH Region
(German, Austria, Switzerland), for PATRIZIA.
PATRIZIA has already made good progress, having acquired its first
residential property on behalf of the mandate, in Denmark. The turnkey
development is located an attractive area in the south of Copenhagen. The
property is situated in a newly developed area close to the Amager Beach
Park at Öresund, close to the city center in an area that is characterised
by modern architecture, parks, and the Amager Beach Park. "The Amager Beach
Park is a very successful public development project, which offers
excellent public transport links into the city center. We believe this will
ensure that there is a strong demand for residential property in the area,
facilitating a positive outlook for capital growth," explains Rikke Lykke,
Managing Director, PATRIZIA Nordic Region.
The residential complex comprise a number of buildings ranging from three
to six floors providing a lettable area of approximately 7,100 square
meters which will deliver 68 residential units, one commercial unit, and 34
parking spaces. The plans call for modern and high-quality facilities as
well as at least one balcony per apartment. Kitchens and bathrooms will be
pre-installed and offer high quality fixtures and fittings. All stairwells
will have elevators. Completion is scheduled for Q4 2017. The seller is a
consortium of investors. The parties have agreed to keep the purchase price
confidential.
"The residential market in Copenhagen is characterised by strong excess
demand for residential space. Furthermore, the population of Copenhagen is
expected to increase by around 24% by 2030," Lykke explains. Moreover, with
a low level of construction and strong demand for residential space in
Copenhagen, prices are expected to remain stable. The prospects for the
residential market are also supported by an improving economy, supported by
a decreasing unemployment rate, increasing consumer confidence, a
normalisation of private consumption, economic growth, lower inflation and
historically low mortgages rates.
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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12.07.2016 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; Terminbörse EUREX
End of News DGAP News Service
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480829 12.07.2016
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