PATRIZIA AG

M&A Activity • Dec 9, 2010

News Details

Ad-hoc | 9 December 2010 23:13

PATRIZIA Immobilien AG: PATRIZIA Immobilien AG acquires investment company LB Immo Invest GmbH

PATRIZIA Immobilien AG / Key word(s): Acquisition/Contract

09.12.2010 23:13

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ad hoc disclosure in line with section 15 of the German Securities Act
(WpHG) -
PATRIZIA Immobilien AG acquires investment company LB Immo Invest GmbH

• Acquisition is an important step for the long-term growth strategy as a
  real estate investment house

• PATRIZIA rises to number 3 among the providers of specialized real
  estate funds in Germany

• Expertise of LB Immo Invest in international commercial real estate
  serves to expand range of indirect investments

• PATRIZIA Immobilien Kapitalanlagegesellschaft mbH remains responsible
  for residential real estate funds

Augsburg, December 9, 2010. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3)
today signed the purchase agreement for the acquisition of the investment
company LB Immo Invest GmbH. The seller is HSH Real Estate AG, a subsidiary
of HSH Nordbank AG. The parties have agreed not to disclose the purchase
price. The acquisition of the profitable LB Immo Invest represents an
important step in the sustained expansion of the service segment in which
PATRIZIA is striving for above-average growth in order to maintain its
income situation.

The real estate investment company LB Immo Invest GmbH currently manages 13
special funds and is the eighth largest German provider of specialized real
estate funds in terms of assets under management with a net fund volume of
EUR 1.5 billion as of October 31, 2010. Although the funds primarily invest
in office and commercial real estate, the special funds comprising some 180
properties also include nursing homes and hotels. As well as Germany as its
main location, LB Immo Invest is also invested in France, the UK, the US,
Scandinavia and the Benelux countries. The institutional investor customer
group is primarily made up of savings banks, insurance companies and
pension funds.

Since 2007, PATRIZIA has been strengthening its range of services for
institutional customers with its own investment company. PATRIZIA
Immobilien Kapitalanlagegesellschaft mbH (KAG) invests in residential real
estate in Germany and Europe. Five funds with a target volume of EUR 1.6
billion have now been launched, EUR 613 million of which has been invested
to date. By acquiring LB Immo Invest, PATRIZIA is responding to the growing
demand for indirect investments: As established platforms, LB Immo Invest
and PATRIZIA Immobilien KAG serve to complement each other and can now
offer their customers investment opportunities in both residential and
commercial real estate in Germany and internationally.

LB Immo Invest GmbH will continue to operate under its existing name with
its head office in Hamburg and will be fully consolidated as a 94.9%
subsidiary of the PATRIZIA Group with effect from January 2011. The
Management Board expects the acquisition to make a contribution to
consolidated EBT for the 2011 and 2012 fiscal years of EUR 3.5 million and
EUR 5.0 million respectively after deduction of transaction-related
financing costs. The acquisition of LB Immo Invest was conducted through
the use of around 40% of equity via a bank loan that will be fully repaid
till March 31, 2015 from surplus shares of LB Immo Invest.

Management Board
Augsburg, December 9, 2010

PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany

Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG

Contact
Investor Relations
Margit Miller
Tel.: +49 (0) 821 5 09 10 369
Fax: +49 (0) 821 5 09 10 399
investor.relations@patrizia.ag

Press
Andreas Menke
Tel.: +49 (0) 821 5 09 10 655
Fax: +49 (0) 821 5 09 10 695
presse@patrizia.ag

09.12.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg
Deutschland
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: investor.relations@patrizia.ag
Internet: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart

End of Announcement DGAP News-Service

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