Corporate | 3 April 2007 07:46
PATRIZIA Immobilien AG / Miscellaneous
Release of a Corporate-announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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PATRIZIA Immobilien AG commits to co-investment with two international
pension funds
Augsburg, April 3, 2007. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) and
Stichting Pensioenfunds ABP from the Netherlands and ATP Real Estate from
Denmark have signed a co-investment agreement. Both co-investment partners
are focused on long-term investments. The total volume of as much as EUR
700 million will be invested primarily in commercial real estate in
Germany.
Commenting on the transaction, Rob Bingen Senior Portfolio Manager Real
Estate of ABP Investments said,
'We have known PATRIZIA to be a strong property and asset manager. This
venture will allow us to further capitalize on the existing expertise in
commercial real estate and benefit from the improving German property
market.'
Commenting on the transaction, Michael Nielsen, CEO of ATP Real Estate
said,
'We are very pleased to target real estate opportunities in Germany by
venturing with PATRIZIA. We believe in strong local management and working
with like-minded investors.'
PATRIZIA took a share in this co-investment vehicle called PATROFFICE GmbH
& Co. KG. Besides the equity stake in this co-investment project, PATRIZIA
Immobilien AG will also handle all purchasing activities and manage the
entire asset portfolio. This co-investment project, launched in
collaboration with two big-name international partners, has enabled
PATRIZIA to further expand its asset management operations in the
commercial property market. Clearly PATRIZIA Immobilien AG, remains as
committed as ever to its strategy of continual growth.
Augsburg, April 3rd 2007
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany
Admitted to trading on the Official Market (Prime Standard) of the
Frankfurt Stock Exchange
ISIN: DE000PAT1AG3
WKN: PAT1AG
Contact:
Investor Relations
Claudia Kellert
Phone +49 (0)821 50910-360
Fax:+49 (0)821 50910-399
investor.relations@patrizia.ag
Press
Astrid Schüler
Phone +49 (0)821 50910-623
Fax +49 (0)821 50910-695
presse@patrizia.ag
DGAP 03.04.2007
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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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