DGAP-News: PATRIZIA Immobilien AG / Key word(s): Contract/Real Estate
PATRIZIA Immobilien AG: PATRIZIA acquires a portfolio of 86 German
retail properties for a new co-investment
11.07.2013 / 20:30
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PATRIZIA Immobilien AG: PATRIZIA acquires a portfolio of 86 German retail
properties for a new co-investment
Augsburg, July 11, 2013. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3)
has today acquired a portfolio of 86 retail properties for institutional
investors within a co-investment structure. The purchase price for the
properties is around EUR 178 million. PATRIZIA itself is aiming for an
equity participation in the final structure.
The retail property portfolio comprises 86 specialist outlets and
supermarkets at attractive, established retail locations with around
133,000 sqm available to rent and generates an annual net basic rent of
approximately EUR 16 million. The properties are being acquired within the
context of a structured bidding process which was won by PATRIZIA and which
relates to the insolvency assets of DEIKON GmbH i.I. Most of the properties
are located in the highly commercially attractive federal states of
Baden-Württemberg, Bavaria, Hesse, Lower Saxony and North Rhine-Westphalia.
The vacancy rate is less than 1%. The rental agreements have an average
residual term of 7.4 years; negotiations with the principal tenants
regarding a contract extension are at an advanced stage. The five largest
tenants are Netto (approx. 30% of rent), REWE (14%), EDEKA (10%), PENNY
(7%) and Lidl (7%) (December 2012).
This acquisition signals PATRIZIA's consistent pursuit of its growth path
and strategy implementation: PATRIZIA's co-investment business model is not
limited to the residential sector and instead encompasses all other real
estate sectors. The investment volume also spans a range of magnitudes.
This investment again emphasizes that alongside its competence in the core
retail real estate sector as covered by PATRIZIA GewerbeInvest KAG,
PATRIZIA's purchase of the Tamar Capital Group means it now also serves the
value-add sector for retail real estate. The team at the Tamar Capital
Group, the investment and asset management company which was acquired in
December 2012, has demonstrable longstanding experience in this segment. As
a result of this group's successful integration within the PATRIZIA group,
PATRIZIA additionally already manages real estate assets of EUR 300 million
with rented space of 250,000 sqm, i.e. in a comparable volume to that of
the new portfolio.
The Managing Board
Augsburg, July 11, 2013.
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
FuggerstraÃe 26
86150 Augsburg (Germany)
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG
Contact
Investor Relations Press
Margit Miller Andreas Menke
Tel: +49 821 50910-369 Tel: +49 821 50910-655
presse@patrizia.ag
Verena Schopp de Alvarenga
Tel: +49 821 50910-351
investor.relations@patrizia.ag
End of Corporate News
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11.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: PATRIZIA Immobilien AG
FuggerstraÃe 26
86150 Augsburg
Germany
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 News DGAP News-Service
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220907 11.07.2013
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA acquires a portfolio of 86 German retail properties for a new co-investment
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