DGAP-News: PATRIZIA Immobilien AG: PATRIZIA signs purchase contract for office property portfolio in Hesse
(firmenpresse) - DGAP-News: PATRIZIA Immobilien AG / Key word(s): Contract/Real Estate
PATRIZIA Immobilien AG: PATRIZIA signs purchase contract for office
property portfolio in Hesse
24.10.2013 / 07:58
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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 Press
Verena Schopp de Alvarenga Andreas Menke
T +49 821 50910-351 T +49 821 50910-655
investor.relations(at)patrizia.ag presse(at)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(at)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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235957 24.10.2013
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Datum: 24.10.2013 - 07:58 Uhr
Sprache: Deutsch
News-ID 308840
Anzahl Zeichen: 8035
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Kategorie:
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