PATRIZIA AG

Regulatory Filings • Jun 18, 2007

News Details

Corporate | 18 June 2007 07:25

PATRIZIA Immobilien AG:acquires another portfolio of 909 units for asset repositioning

PATRIZIA Immobilien AG / Miscellaneous

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PATRIZIA Immobilien AG acquires another portfolio of 909 units for
asset repositioning

Augsburg, June 18, 2007. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has
acquired 852 residential and 57 commercial units and now plans to
revitalise them. Over 90% of the apartments occupy attractive locations in
Leipzig. The remainder of the residential units – just under 10% – are in
the Ruhrgebiet conurbation. All in all, the portfolio adds ups to around
59,000 sqm of net floor space. The purchase price runs into the tens of
millions of euros.

The attractive locations of the properties in Leipzig and their substantial
upside value potential clinched PATRIZIA's decision to buy. Built between
1925 and 1933, more than 80% of the objects in Leipzig have been thoroughly
modernised to a very high standard. Some of them are of equivalent quality
to new buildings.

Gradually scaling back the vacancy rate, which currently stands at about
22%, and taking further steps to increase the value of those units that
have been modernised only partially or not at all will create significant
upside value potential. In addition, around 2,000 sqm of extra space can
still be developed on the upper floors of the buildings.

As with other portfolios earmarked for asset repositioning, PATRIZIA is
once again focusing on three aspects: renovating and modernising the
objects to increase their value; sustainably reducing the vacancy rate by
attracting new tenants; and improving the tenant structure in the newly
acquired properties. The overriding goal of all these value-added
activities is, as always, to optimize the portfolio and generate stable
rental cash flows in line with market conditions.

Augsburg, June 18, 2007

PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany

Listing: Official Market Frankfurt (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

Press
Astrid Schüler
Tel : +49 (0)821 5 09 10-623
Fax:+49 (0) 821 5 09 10-695
presse@patrizia.ag

DGAP 18.06.2007

Language: English
Issuer: 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
www: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Indices: MDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, München, Hamburg, Düsseldorf, Stuttgart

End of News DGAP News-Service

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