Corporate | 24 October 2013 07:58


PATRIZIA Immobilien AG: PATRIZIA signs purchase contract for office property portfolio in Hesse


PATRIZIA Immobilien AG / Key word(s): Contract/Real Estate

24.10.2013 / 07:58

PATRIZIA Immobilien AG: PATRIZIA signs purchase contract for office property portfolio in Hesse

– Transaction volume is around EUR 0.8 billion

– Lease agreement with the federal state of Hesse has a term of more than 20 years


Augsburg, 24 October 2013. Following the announcement, on 23 September 2013, of its intention to purchase a portfolio of 36 office properties in the federal state of Hesse with leased space of approximately 450,000 sqm, PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has now signed the purchase contract. As of 30 June 2013, the properties had a market value of around EUR 0.8 billion. The transaction volume is EUR 0.8 billion and roughly corresponds to the portfolio’s current market value. The seller is a subsidiary of CA Immobilien Anlagen AG. The portfolio will have a maximum external financing rate of 50% and is being acquired, via a special real estate fund, for a German-speaking consortium of investors comprising institutional investors.

The lease agreement concluded with the federal state of Hesse for all properties still has well over 20 years to run and after the end of the original term, is in each case automatically extended for a further three years. The portfolio currently has a letting volume of just over EUR 46 million per year. Moreover, the federal state of Hesse is a tenant with a good credit rating.

In addition to the income from fund and asset management, PATRIZIA will also receive a customary acquisition fee. The transaction is to be completed in 2013. Through this acquisition, PATRIZIA is providing further evidence of its growth potential and is driving its strategy towards becoming a fully integrated real estate investment company.

The Managing Board
Augsburg, 24 October 2013

PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg (Germany)

Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG

Contact

Investor Relations
Verena Schopp de Alvarenga
T +49 821 50910-351
investor.relations@patrizia.ag 		Press
Andreas Menke
T +49 821 50910-655
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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