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PATRIZIA Immobilien AG: PATRIZIA starts off the new year very strong

DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Interim Report
PATRIZIA Immobilien AG: PATRIZIA starts off the new year very strong

09.05.2016 / 19:46
The issuer is solely responsible for the content of this announcement.

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First quarter 2016 results
PATRIZIA starts off the new year very strong

- Operating income surges to EUR 216.9m

- Transaction volume totalling to EUR 2.2bn

- European expansion continued

- New funds launched

- Guidance of operating income for fiscal year 2016 of at least EUR 250m
confirmed

Augsburg, 9 May 2016. PATRIZIA Immobilien AG started off the fiscal year
2016 very strong, reporting an operating income of EUR 216.9m for the 1st
quarter 2016. This result was driven by the sale of the Harald portfolio,
consisting of 13,500 flats in Germany. However, even adjusting for the
contributions from the sale of the Harald portfolio, the operating income
almost doubled to EUR 14.2m, compared to EUR 7.5m for the same period in
the previous year.

In the quarter under report PATRIZIA continued its European expansion.
Year-on-year, PATRIZIA was able to more than triple its transaction volume
to EUR 2.2bn in 21 transactions (1st quarter 2015: EUR 0.7bn). In addition
to several retail portfolio acquisitions in Germany, a residential
portfolio was acquired in the Netherlands. In the wake of PATRIZIA's
acquisition of the Madame Tussauds building in London for an Asian investor
in 2015, for example, an additional trophy asset was acquired for a
consortium of Asian investors in the guise of the Astro Tower in Brussels
in the 1st quarter 2016. The closing took place in April 2016.

Furthermore, PATRIZIA GrundInvest, the German retail platform, started the
placement of its first retail fund in the 1st quarter 2016. This fund is
investing in two properties on the campus of Aachen University (RWTH
Aachen). Further properties in different asset classes for additional
retail funds in Stuttgart, Copenhagen, and The Hague have already been
acquired at an investment volume of more than EUR 150m.

In total, PATRIZIA raised EUR 508.8m in institutional funds during the
period under reporting for investments with institutional and private
investors (1st quarter 2015: EUR 130m). As of 31 March 2016, assets under
management of EUR 16.5bn were at the previous year's end level. One-third
of the assets under management are outside of Germany: "Thanks to our
international network with our own subsidiaries and our own teams in place,
we are now able to provide access to investments on a broadly diversified
scale in Europe - in a wide range of countries, sectors and risk
categories," stresses Wolfgang Egger, CEO of PATRIZIA Immobilien AG. More
than 200 institutional investors such as savings banks, pension funds,
sovereign wealth funds and insurance companies are now investing in real
estate through PATRIZIA.

Following the successful operational progress made in the 1st quarter of
2016, the Board of Management of PATRIZIA has confirmed the guidance for
the 2016 fiscal year. Assets under management are expected to grow by EUR
2bn net and the operating income target is at least EUR 250m.

The Managing Board
Augsburg, 9 May 2016

For the complete quarterly report see:
www.patrizia.ag/en/investor-relations/financial-reports/quarterly-reports/

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

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

Contact

Investor Relations

Michael Tegeder Verena Schopp de Alvarenga
T [phone] T [phone]
[e-mail] [e-mail]


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09.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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: [e-mail]
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; Terminbörse EUREX


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461761 09.05.2016