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PATRIZIA AG
M&A Activity • Apr 14, 2016
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M&A Activity
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News Details
Corporate | 14 April 2016 07:00
PATRIZIA Immobilien AG: PATRIZIA acquires retail real estate portfolio for EUR 320 million
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Acquisition
2016-04-14 / 07:00
The issuer is solely responsible for the content of this announcement.
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] |
2016-04-14 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.
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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 |