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PATRIZIA Immobilien AG: PATRIZIA acquires property portfolio encompassing 21 specialist outlets

DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Acquisition
PATRIZIA Immobilien AG: PATRIZIA acquires property portfolio encompassing 21
specialist outlets

11.01.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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250 million euro investment for new special property fund
PATRIZIA acquires property portfolio encompassing 21 specialist outlets

- Specialist outlets, supermarkets and DIY stores with a lease area of
over 180,000 square metres (1.94 million sq ft)
- Properties in strong economic locations, primarily in western Germany
- Portfolio being merged with recently acquired retail property package

Augsburg, 11 January 2016. PATRIZIA Immobilien AG has again acquired a
major retail trade portfolio within a matter of only weeks. The acquired
property includes 21 specialist markets, supermarkets and DIY stores
belonging to leading chains such as Rewe, Edeka, Kaufland and Bauhaus with
a retail leasing area measuring over 180,000 square metres (1.94 million sq
ft). The outlets are located in strong economic areas, with a major share
of properties in western Germany. Most of the properties are situated in
the states of Bavaria, Lower Saxony and Schleswig-Holstein. The buying
price was around 250 million euros. "PATRIZIA now manages retail property
worth more than 2.6 million euros throughout Europe, making it one of the
biggest landlords of retail property in Germany," states Wolfgang Egger,
CEO of PATRIZIA Immobilien AG.

The average lease of the newly acquired properties is around seven years.
Taking extension clauses into account, these leases are even as long as 16
years. The majority of tenancy agreements are held by trading groups with
excellent credit ratings.

The portfolio is being added to a special property fund called PATRIZIA
Handels-Invest Deutschland II, which was recently set up. Only as recently
as December, PATRIZIA acquired a similar portfolio of 18 retail properties
in western Germany for the fund. "Both portfolios are an excellent fit and
by pulling the two together they create a variety of synergies. This move
offers institutional investors an opportunity to join forces with an
experienced partner who is in a position to add value through proactive
asset management, opening the door to investment in a highly attractive
property segment offering long-term revenues," states Egger. The properties
were sold by LaSalle Investment Management.

This most recent acquisition marks the continuation of a series of
successful major trade property deals in 2015. Apart from the
aforementioned portfolio acquisition in December, in September PATRIZIA