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PATRIZIA AG
M&A Activity • Jan 11, 2016
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M&A Activity
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News Details
Corporate | 11 January 2016 08:00
PATRIZIA Immobilien AG: PATRIZIA acquires property portfolio encompassing 21 specialist outlets
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Acquisition
2016-01-11 / 08:00
The issuer is solely responsible for the content of this announcement.
250 million euro investment for new special property fund
PATRIZIA acquires property portfolio encompassing 21 specialist outlets
– Specialist outlets, supermarkets and DIY stores with a lease area of over 180,000 square metres (1.94 million sq ft)
– Properties in strong economic locations, primarily in western Germany
– Portfolio being merged with recently acquired retail property package
Augsburg, 11 January 2016. PATRIZIA Immobilien AG has again acquired a major retail trade portfolio within a matter of only weeks. The acquired property includes 21 specialist markets, supermarkets and DIY stores belonging to leading chains such as Rewe, Edeka, Kaufland and Bauhaus with a retail leasing area measuring over 180,000 square metres (1.94 million sq ft). The outlets are located in strong economic areas, with a major share of properties in western Germany. Most of the properties are situated in the states of Bavaria, Lower Saxony and Schleswig-Holstein. The buying price was around 250 million euros. “PATRIZIA now manages retail property worth more than 2.6 million euros throughout Europe, making it one of the biggest landlords of retail property in Germany,” states Wolfgang Egger, CEO of PATRIZIA Immobilien AG.
The average lease of the newly acquired properties is around seven years. Taking extension clauses into account, these leases are even as long as 16 years. The majority of tenancy agreements are held by trading groups with excellent credit ratings.
The portfolio is being added to a special property fund called PATRIZIA Handels-Invest Deutschland II, which was recently set up. Only as recently as December, PATRIZIA acquired a similar portfolio of 18 retail properties in western Germany for the fund. “Both portfolios are an excellent fit and by pulling the two together they create a variety of synergies. This move offers institutional investors an opportunity to join forces with an experienced partner who is in a position to add value through proactive asset management, opening the door to investment in a highly attractive property segment offering long-term revenues,” states Egger. The properties were sold by LaSalle Investment Management.
This most recent acquisition marks the continuation of a series of successful major trade property deals in 2015. Apart from the aforementioned portfolio acquisition in December, in September PATRIZIA also acquired a retail complex in Copenhagen city centre through its Danish subsidiary. The acquisition of an extensive Dutch retail trade portfolio followed in October through the
PATRIZIA Netherlands subsidiary. In February of 2015, PATRIZIA acquired a German retail trade portfolio encompassing 107 supermarkets and discounters throughout the whole of Germany.
PATRIZIA Immobilien AG:
With 800 employees in more than ten countries, PATRIZIA Immobilien AG has been active on the real-estate market as an investor and service provider for more than 30 years. PATRIZIA’s range includes the purchase, management, value increase and sale of residential and commercial real estate over own licensed investment platforms. As a recognised business partner of large institutional investors and retail investors, the Company operates in all major European countries and covers the entire value. At present, the Company manages real estate assets worth EUR 16 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**
Verena Schopp de Alvarenga
T +49 821 50910-351
2016-01-11 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
| 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 |
| End of News | DGAP News Service |