Business and Financial Review • Sep 30, 2011
Business and Financial Review
Open in ViewerOpens in native device viewer
News Details
Corporate | 30 September 2011 07:13
PATRIZIA Immobilien AG: PATRIZIA Increases Sales
PATRIZIA Immobilien AG / Key word(s): Disposal/Miscellaneous
30.09.2011 / 07:13
PATRIZIA Immobilien AG: PATRIZIA Increases Sales
– In block sales, deeds signed for 154 units in the 3 rd quarter
– Residential property resale grows significantly
– Further investments in fund business
Augsburg, September 30, 2011. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has signed deeds for 154 apartment block sales in the current quarter. These consisted of 5 small transactions in Munich and Friedrichshafen with 10 and 58 units respectively accounting for a total of 12,400 sqm. The sales volume amounts to EUR 30.4 million. In addition, there was a block sale of 20 units (1,650 sqm) with a sales volume of EUR 4.1 million that was already announced in the supplementary report for the reporting period for the first half of 2011.
The block sales mentioned come from investment property and are therefore not included in the sales figures. EUR 26.1 million of the proceeds from the sales are likely to be recognized as profit/loss in the current 3 rd quarter (119 units) with the remaining EUR 8.4 million being recognized in the 4 th quarter (55 units). The average sales price per square meter attained in these transactions was EUR 2,458 (1 st half year 2011: EUR 1,592/sqm).
In residential property resale a total of 166 units with a volume of EUR 32.2 million were sold to tenants, owner-occupiers and private investors in July and August. The sales figures for the 2 nd quarter of 2011 (161 units) were exceeded after only two months (January-August: 459 units). The average sales price realized in residential property resale was EUR 2,535 /sqm in July and August (1 st half year 2011: EUR 2,295/sqm). As a result of the new properties released for sale in April 2011, the proportion of tenants among the purchasers increased to 29% – after only 9% in the 2 nd quarter of 2011.
Negotiations concerning significant block sales are currently at an advanced stage so that further transactions will be completed in the 2011 fiscal year. The high level of notarial deed activity is continuing in the field of residential property resale. In addition, in the 3 rd quarter of 2011 PATRIZIA will see an inflow of EUR 2.1 million in purchase commissions from investments made in funds. The increased momentum of business activity underpins our continued confidence of being able to achieve the forecast EBT adjusted result of EUR 16-17 million by the end of the year.
The Managing Board
Augsburg, September 30, 2011
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 [email protected] |
Press Andreas Menke Tel: +49 (0) 821 5 09 10-655 [email protected] |
End of Corporate News
30.09.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s 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 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart |
| End of News | DGAP News-Service |
| - - - |
| 140853 30.09.2011 |
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.