Corporate | 26 July 2016 07:00
PATRIZIA Immobilien AG: PATRIZIA receives a mandate for over EUR 400 million from BVK
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DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Contract
Large contract from one of Germany’s biggest institutional investors
– Establishment of a pan-European real estate portfolio for Bayerische Versorgungskammer – Portfolio with almost 1,300 flats already purchased in the Netherlands – Investments planned both in portfolio flats and project development – Additional investments planned initially in the Netherlands and Nordic region Augsburg, 26 July 2016. PATRIZIA Immobilien AG has received a mandate from Bayerische Versorgungskammer (BVK) to act as investment manager for over EUR 400 million. PATRIZIA will be setting up a pan-European portfolio of flats in this magnitude for a BVK fund and be responsible for the real estate as investment manager. “We are pleased that one of Germany’s biggest institutional investors would now like to leverage our competence and skill as a European real estate investment company with local experts in all relevant real estate markets for its investment strategy in the form of an individual mandate as well,” affirms Jochen Reith, Group Head of Institutional Clients DACH at PATRIZIA. Investments are being planned both in existing residential real estate as well as project development involving new construction, especially in the Netherlands and the Nordic region. Bayerische Versorgungskammer is the biggest public-law pension fund in Germany at present, managing the business of twelve professional and local community old-age pension facilities with 2.1 million insured persons and pensioners. It manages a capital investment volume of approximately EUR 66 billion for all facilities together at present. As far back as March, PATRIZIA acquired a large portfolio of flats in the Netherlands for the new mandate. The portfolio comprises 1,275 flats at 23 locations in different urban areas, most of which have high growth rates, a large number of them in the very potent conurbation of Randstad. The main focus is Amsterdam, Zwolle and Dordrecht. The purchase price was around EUR 150 million. Sellers included several real estate funds managed by Holland Immo Group. In addition to 1,275 flats in 27 building complexes, there are also 4 commercial units and more than 500 parking places in the portfolio. It is planned to keep most of the flats in the portfolio. Some of the flats are to be privatised.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG
Listed: Official Market Frankfurt am Main (Prime Standard)
Verena Schopp de Alvarenga
2016-07-26 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group 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, Tradegate Exchange; Terminbörse EUREX | |
| End of News | DGAP News Service |