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Disclaimer

The funds shown on the website of PATRIZIA Immobilien AG  in the part business customers are directed exclusively to German professional and semi-professional investors and are not suitable for private customers.

Professional Investor
as defined in Article 1, Paragraph 19, Section 32 KAGB:

A Professional Investor is any investor who is considered a professional client or who may be treated as professional client upon request, within the meaning of Annex II of the 2004/39/EC directive.

Semi-Professional Investor
as defined in Article 1, Paragraph 19, Section 33 KAGB:

A Semi-Professional Investor is 
a)
any investor 
aa)
who undertakes to invest at least EUR 200,000
bb)
who indicates in writing, in a document separate from the investment commitment contract, awareness of the risks related to the intended commitment or investment
cc)
whose expertise, experience and knowledge has been assessed by the AIF management company or the distribution company it has commissioned, without assuming that the investor has the market knowledge and experience of the investor described in Annex II, Paragraph I of the 2004/39/EC directive
dd)
regarding whom the AIF management company or the distribution company it has commissioned, taking into consideration the nature of the intended commitment or investment, is sufficiently convinced that he or she is able to make investment decisions, understands the risks involved and that such a commitment is appropriate for the investor in question
ee)
who has received written confirmation from the AIF management company or the distribution company it has commissioned that the assessment described under section cc has been done and that the conditions listed under section dd are met
b)
an AIF management company manager or employee listed in Article 37, Paragraph 1, provided he or she invests in the AIF managed by the AIF management company, or a manager or board member of an externally managed investment company, provided he or she invests in the externally managed investment company
c)
any investor who undertakes to invest at least EUR 10 million in an investment fund.