Regulatory Filings • Sep 3, 2015
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Corporate | 3 September 2015 09:05
PATRIZIA Immobilien AG: PATRIZIA acquires ‘Galleri K’ block in centre of Copenhagen
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Miscellaneous
2015-09-03 / 09:05
PATRIZIA acquires “Galleri K” block in centre of Copenhagen
On- and Off-Market-Deal in Denmark for co-investment
– Block with more than 20 high street retail shops on the top shopping street
– Purchase price EUR 200 million
– PATRIZIA is thus one of the biggest retail lessors in central Copenhagen
Augsburg/Copenhagen, 3 September 2015. PATRIZIA Immobilien AG has acquired the business block “Galleri K” in the centre of Copenhagen for the equivalent of EUR 200 million. The entire building consists of 20 high street shops let to international fashion retailers, offices and apartments, and is located on an exclusive part of the famous “Stroget” shopping street. The purchase was made via the Danish national subsidiary as a co-investment with a German pension fund. PATRIZIA acquired the block in two separate transactions from the institutional investor Unipension and the Bank of Ireland. “In Denmark alone, PATRIZIA’s real estate assets under management have thus increased to around EUR 800 million,” reports Rikke Lykke, Managing Director of PATRIZIA Nordic Region – Denmark, Finland, Norway, Sweden.
The six-storey business block “Galleri K” comprises several buildings built between 1752 and 1900 and extensively renovated and modernised in 2005/2006. They are located on an approximately 5,400 square metre plot between the famous shopping streets Pilestraede, Ostergade, Antonigade and Kristen Bernikows Gade and have total floor space of around 25,000 square metres. The retail spaces amount to a total of more than 13,100 square metres and additionally approximately 10,000 square metres of office space. In addition to numerous shops of top international brands as H&M, Topshop, Urban Outfitters and Nespresso the two largest department stores in Copenhagen are also in the immediate vicinity.
“The property Galleri K offers a rare and exceptional investment opportunity on Copenhagen’s main shopping street with a first-class retail and office market,” explains Lykke. “Due to its pan-European positioning, PATRIZIA is able to identify such investment opportunities at an early stage and to use them for its customers. We obtained the unique chance to acquire the entire block by ensuring an off-market exclusivity on the upper part of the building before the lower part of the building was offered on the market. This emphasises PATRIZIA’s strength in the real estate business and sets us apart from other market players.” The acquisition also makes PATRIZIA one of the biggest lessors of retail stores in central Copenhagen. As recently as the turn of the year, PATRIZIA acquired a commercial property portfolio with ten office and high street retail properties for around EUR 170 million in Copenhagen. Six of the high street properties are located on “Stroget” – the pedestrian area. The portfolio was purchased for the “PATRIZIA Nordic Cities” fund for two institutional investors from Germany.
PATRIZIA Immobilien AG:
With 800 employees in more than ten countries, PATRIZIA Immobilien AG has been active on the real-estate market as both 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. As a recognised business partner of both large institutional investors and private investors, the Company operates in Germany and other countries and covers the entire value chain in the real estate industry. At present, 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 and savings banks. Further information can be found at www.patrizia.ag .
Contact:
Press
Andreas Menke
Group Head of Corporate Communications
T +49 821 50910-655
Investor Relations
Margit Miller
Head of Investor Relations
T +49 821 50910-369
2015-09-03 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 |
| - - - |
| 392031 2015-09-03 |
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