Corporate | 28 October 2015 07:30

PATRIZIA Immobilien AG: PATRIZIA acquires premium retail portfolio in the Netherlands

DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Miscellaneous

2015-10-28 / 07:30

PATRIZIA acquires premium retail portfolio in the Netherlands
Acquisition as part of recently introduced high street retail property fund

– Package includes 145 high street retail, residential and office units
– Buying price EUR 340 million
– Over 100 retail properties alone, in prime shopping locations

Augsburg/Amsterdam, 28 October 2015. PATRIZIA Immobilien AG has acquired a premium property portfolio encompassing 145 retail, residential and office units in the Netherlands. The transaction was completed through its subsidiary PATRIZIA Netherlands. The buying price was approx. EUR 340 million. The acquisition was carried out on behalf of institutional investors for a special property fund, which was only set up recently, called PATRIZIA Dutch High Street Retail Fund 1. “This off-market transaction has demonstrated once again that our European structure puts us in an ideal position to identify attractive investment options on behalf of our customers, even beyond on-market options,” states Wolfgang Egger, CEO of PATRIZIA Immobilien AG.

The acquired portfolio includes 107 retail properties alone, in prime shopping locations in urban centres. For example: Kalverstraat in Amsterdam, Spuistraat in The Hague, Ketelstraat in Arnhem, Demer in Eindhoven, Eindstraat in Breda and Grote Houtstraat in Haarlem. The package also includes 35 residential properties and 3 office villa’s. Around two thirds of the retail properties stand in the top 20 retail locations in the Netherlands and 89 per cent even count among the 40 most sought-after retail locations in the country. The main tenants include many well-known international retail chains, among them H&M, Zara, C&A, Adidas, Vero Moda, Foot Locker and Apple – although the tenants also include domestic chain stores and some regional retailers.

Traditional city centres and their high street shopping areas are still the most important retail locations in the Netherlands, primarily due to strict approval processes and official regulations. As a result, the acquired retail properties are considered highly safe investments in the most important shopping areas in the country. “These are the kinds of trade properties that will remain strong whatever happens with respect to long-term online shopping trends,” states Peter Helfrich, Managing Director of PATRIZIA Netherlands. “The retail trade environment is going through a period of change, reflected by rising demand for top shopping locations, so this makes these properties excellent in terms of value retention,” continues Helfrich. In keeping with this, there was strong demand for the recently introduced special property fund PATRIZIA Dutch High Street Retail Fund 1.

This most recent acquisition marks a continuation of the PATRIZIA strategy of establishing a sustainable property portfolio in the Netherlands in the long term. Only last year, PATRIZIA took over a portfolio of around 5,500 flats from a Dutch housing association, sealing the biggest transaction on the Dutch property market to date. PATRIZIA recently reached an agreement with a Dutch development corporation to acquire around 600 flats in the south of The Hague upon their completion. This follows an agreement signed by PATRIZIA with the authorities in The Hague in the spring of this year, confirming plans to make an investment in 150 to 200 new flats in the city per year.

PATRIZIA Immobilien AG:
With 800 employees in more than ten countries, PATRIZIA Immobilien AG has been active on the real-estate market as an investor and service provider for more than 30 years. PATRIZIA’s range includes the purchase, management, value increase and sale of residential and commercial real estate over own licensed investment platforms. As a recognised business partner of large institutional investors and private investors, the Company operates in all major European countries and covers the entire value. At present, the Company manages real estate assets worth EUR 17 billion, primarily as a co-investor and portfolio manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. For further information, please visit www.patrizia.ag .

Investor Relations
Margit Miller
T +49 821 50910-369
Verena Schopp de Alvarenga
T +49 821 50910-351
investor.relations@patrizia.ag

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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:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart

End of News DGAP News Service

406019  2015-10-28