We use cookies to adapt this website to your needs as well as to improve our services. The further use of the website is understood as consent to our regulations on cookies.

DGAP-Ad-hoc: PATRIZIA Immobilien AG buys another portfolio with more than 2,600 residential units

PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has acquired another real estate portfolio, this one comprising a total of 2,737 residential and commercial units (2,667 residential and 70 commercial units).

The seller of the portfolio is HDI Gerling Lebensversicherung AG. The total investment volume was approximately EUR 300 million.

Total net floor space in the portfolio adds up to around 195,000 m2. The residential properties include a variety of complexes in top locations in western German conurbations. The majority of these units lend themselves to individual resale. Most are concentrated in Hamburg, Cologne and the Munich area. The sound structural condition of the objects and a very low vacancy rate testify to the attractive, high-quality nature of this portfolio. PATRIZIA's acquisition of this high-grade portfolio further enlarges the company's footprint on the German market.

As in the past, PATRIZIA remains focused on the socially compatible resale of housing – preferably to existing tenants. Thanks to an integrated business model, the PATRIZIA Group can deploy its own local work force to take care of every step involved in optimizing the value of the portfolio.

Having purchased more than 9,500 residential and commercial units in the fourth quarter of 2006 alone, the company is looking to pursue the same growth strategy in the fiscal years ahead.

The Managing Board
Augsburg, December 6, 2006

PATRIZIA Immobilien AG
Fuggerstrasse 26
86150 Augsburg 

Listing:  Frankfurt Official Market (Prime Standard)

Investor Relations    
Claudia Kellert

Phone:+49 (0) 821 5 09 10-360 
Fax:+49 (0) 821 5 09 10-399


Andreas Menke

Phone:+49 (0) 821 5 09 10-655
Fax:+49 (0) 821 5 09 10-695


Financial News transmitted by DGAP

Issuer:PATRIZIA Immobilien AG
 Fuggerstraße 26
 86150 Augsburg
Phone:+49 (0)821 - 509 10-000
Fax:+49 (0)821 - 509 10-999
Listed:Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Hamburg, Düsseldorf, Stuttgart

Ende of News - DGAP News-Service

Share this article: