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BayernLB's Board of Administration and Management Board vote for sale of GBW to investor consortium led by PATRIZIA Alternative Investments GmbH

PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has been informed today by Bayerische Landesbank Anstalt des öffentlichen Rechts (BayernLB) that both its Board of Administration as well as its Management Board have voted in favour of the consortium’s bid.

The purchase agreement regarding the shares held by BayernLB (50.19 million shares representing approx. 91.93%) will become effective upon the still outstanding notarised acceptance of the offer. In the context of this transaction, further share purchase agreements will be entered into, representing a combined total of c. 96.5% of the shares in GBW AG acquired by the investors involved. With about 32,000 residential units and consolidated total assets of about 2.5 billion Euros as of December 31, 2012, GBW group is one of Germany's largest real estate companies. The closing of the transaction is subject to antitrust approval.

PATRIZIA Immobilien AG will as a co-investor contribute capital of approx. 58 million Euros.

The investor consortium consists of a number of investors with a long-term focus, located in German-speaking countries, such as pension funds, insurance companies and savings banks. PATRIZIA Alternative Investments GmbH, a wholly-owned subsidiary of PATRIZIA Immobilien AG, has advised the investor consortium in arranging, negotiating, structuring and realising the transaction and will render management services following its closing.

The Management Board
Augsburg, April 8, 2013

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