19.07.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA acquires office portfolio for more than EUR 400 million
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Acquisition
PATRIZIA Immobilien AG: PATRIZIA acquires office portfolio for more than EUR
400 million
19.07.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Newly issued real estate fund fully invested
PATRIZIA acquires office portfolio for more than EUR 400 million
- Nine office and commercial buildings with 100,000 sm of lettable space
- The properties are located in the top locations in the economically
strongest metropolitan areas of Germany
- Tenants with excellent credit ratings and high letting rate
Augsburg, 19 July 2016. PATRIZIA Immobilien AG acquired a portfolio of nine
office and commercial properties in the top locations in the economically
strongest metropolitan areas of Germany. The purchase price amounts to over
EUR 400 million. The seller is Allianz Real Estate Germany GmbH. "The
portfolio's quality is outstanding, because it contains properties in the
most attractive office markets with a well balanced tenant mix and a high
letting rate. It provides our clients with the unique opportunity to
participate in the economic development of the best German office
locations," said Philipp Schaper, Group Head of Transactions at PATRIZIA.
The acquisition is made on behalf of "PATRIZIA GewerbeInvest Deutschland
II", which was just issued during the second half of 2015. The fund is now
fully invested. Over the course of the acquisition, the fund increased its
volume from EUR 600 million to now EUR 800 million.
The nine properties are located in Hamburg, Munich, Stuttgart, Frankfurt,
Hanover and Dusseldorf, and offer lettable space ranging from 2,800 to
38,000 square meters. All buildings are very well maintained and in
technically good condition with modern and flexible floorplans. The older
buildings were fully refurbished in the past few years. The largest
property in the portfolio is the well-known "Sprinkenhof" in the "Kontor"
part of Hamburg, which is part of UNESCO world cultural heritage.
Some of the well-known tenants in the properties are HSBC Trinkaus &
Burkhardt, the Bundesanstalt für Immobilienaufgaben as well as the Allianz
Group. Overall, the properties are leased by around 180 tenants. The
average remaining leasing period is over three and a half years, and the
letting rate is around 94%. Almost all of the properties are situated in
office locations with excellent local amenities and outstanding connections
to public transport. The respective office markets have been attractive for
years, which is evident considering the constant high or even growing
demand and the shortening of the supply. The portfolio includes around 600
parking spaces.
PATRIZIA was advised by CBRE in the portfolio transaction.
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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19.07.2016 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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483343 19.07.2016
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