Corporate | 4 October 2012 07:00
PATRIZIA Immobilien AG / Key word(s): Real Estate/Contract
04.10.2012 / 07:00
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* Acquisition for the WohnModul I
* Expands presence on the Munich market
Augsburg, October 4, 2012. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has
acquired a development plot measuring around 65,000 sqm at Hofmannstrasse
in Munich-Obersendling. The plot was sold by Siemens Real Estate.
Previously used on a mainly commercial basis, it will be used for
residential purposes in the future. The investment volume is around EUR 300
million.
For PATRIZIA, purchasing this plot marks a significant expansion of its
presence on the Munich market. This transaction increases PATRIZIA's
current development volume in Bavaria's capital city to around 100,000 sqm
floor space.
The property has been acquired for WohnModul I, an actively managed
co-investment between PATRIZIA Immobilien AG and a German pension fund. The
pension fund contributed start-up equity of EUR 100 million; PATRIZIA
contributed a stake of EUR 10 million. A second tranche of the same amount
is fully invested through the purchase of the property at Hofmannstrasse.
Since its establishment in September 2011, purchases have already been made
in Munich, Düsseldorf, Hamburg, Berlin and Augsburg.
Augsburg, October 4, 2012
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstraße 26
86150 Augsburg
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG
Contact:
Investor Relations
Verena Schopp de Alvarenga
T +49 821 50910-351
F +49 821 50910-399
investor.relations@patrizia.ag
Press
Andreas Menke
T +49 821 50910-655
F +49 821 50910-695
presse@patrizia.ag
End of Corporate News
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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: 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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