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PATRIZIA AG
Regulatory Filings • Nov 2, 2016
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News Details
Corporate | 2 November 2016 07:30
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
2016-11-02 / 07:30
The issuer is solely responsible for the content of this announcement.
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] |
2016-11-02 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
| 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 |