PATRIZIA Immobilien AG notarizes a block sale of 274 apartments with a total volume of EUR 42.1 million
PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) has sold two residential facilities on the outskirts of Munich with a total of 274 residential units. The purchase price of the properties built in the 1980s came to EUR 42.1 million. The sale, to contribute to sales revenue and be recognized in income in the second quarter of 2010, was made to an institutional investor.
The largest block sale of the previous year comprised 194 units. In view of the size of the portfolio just sold we are confident that the market for real estate transactions will continue its recovery and that further block sales will be concluded in fiscal year 2010.
Augsburg (Germany) – April 27, 2010
PATRIZIA Immobilien AG
Listing: Frankfurt Official Market (Prime Standard)