PATRIZIA AG

Regulatory Filings • Jan 19, 2010

News Details

Corporate | 19 January 2010 07:57

PATRIZIA Immobilien AG: Successful Sale from PATRoffice Co-Investment Portfolio

PATRIZIA Immobilien AG / Miscellaneous

19.01.2010

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The issuer / publisher is solely responsible for the content of this announcement.

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PATRIZIA Immobilien AG: Successful Sale from PATRoffice Co-Investment
Portfolio

Augsburg (Germany) - January 19, 2010. PATRIZIA Immobilien AG has
successfully sold a commercial property consisting of 13 units from the
real estate portfolio of its co-investment, PATRoffice Real Estate GmbH &
Co. KG. The commercial building located in the center of Munich, with a
total floor space of approximately 2,250 sqm, was sold with a factor of
more than 20 of the net actual rent (multiple). The internal rate of return
(IRR) achieved on the deployed equity was 28%. Both figures clearly show
the success of this portfolio which is actively managed by PATRIZIA Asset
Management.

The building, which has 11 commercial and 2 residential units, was acquired
in December 2007 for the portfolio of PATRoffice Real Estate GmbH & Co. KG.
PATRoffice Real Estate GmbH & Co KG is an active co-investment in which
PATRIZIA Immobilien AG holds a 6.25% stake. The remaining 93.75% of the
shares are held in equal proportions by Netherlands-based APG and ATP,
which has its headquarters in Denmark. These are pension funds that operate
across Europe.

In addition to holding a share in the co-investment, PATRIZIA is also
responsible for asset and sales management of the real estate portfolio of
PATRoffice via its subsidiary PATRIZIA Investmentmanagement GmbH. Against
this background, various value-enhancing measures were implemented to
optimize the rent return on the Munich commercial property bought in 2007.
The property was then ideally placed on the market. The PATRIZIA sales team
achieved a purchase price that was around 10% higher than the market value
of the property according to the most recent appraisal.

With this transaction, PATRIZIA underlines its strategy of providing its
customers with the full range of real estate services. It was only the
coordinated interchange between purchase, asset management and marketing
which allowed the property to be developed optimally and placed
successfully on the market.

About the Company:

PATRIZIA Immobilien AG is an integrated real estate group with more than 25
years' experience in the German real estate market. Its business activities
include the purchase, value optimization and placement of residential and
commercial real estate. PATRIZIA Immobilien AG is listed in the Deutsche
Börse Prime Standard and is a member of the SDAX.

Augsburg (Germany) - January 19, 2010

PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany

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

Contact:
Investor Relations
Claudia Kellert
Tel: +49 (0) 821 5 09 10-360
Fax:+49 (0) 821 5 09 10-399
investor.relations@patrizia.ag

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

19.01.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
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, München, Hannover, Düsseldorf, Stuttgart, Hamburg

End of News DGAP News-Service

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