PTA-News: PATRIZIA Immobilien AG: PATRIZIA acquires three business parks for co-investment in UK

8/11/2014, 3:29 PM (Source: pressetext)
Augsburg (pta026/11.08.2014/15:29) - PATRIZIA acquires three business parks for co-investment in UK

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Augsburg (pta026/11.08.2014/15:29) - PATRIZIA acquires three business parks for co-investment in UK

- Investment volume of £ 430 million (approx. EUR 538 million)
- Over 500 firms with 13,000 employees based in the business parks

Augsburg (Germany)/London, August 11, 2014. PATRIZIA Immobilien AG is continuing to grow in Europe and has acquired three business parks for a co-investment in Great Britain. The purchase price is £ 430 million (approx. EUR 538 million). The new owner of the business parks is a joint venture of PATRIZIA and Oaktree Capital Management. The seller is Hermes Real Estate, a subsidiary of one of the leading pension schemes in Great Britain, which specialises in real estate. "We now manage real estate assets of nearly EUR 1 billion in Great Britain. It took us less than 18 months to achieve this," said Arwed Fischer, CFO of PATRIZIA Immobilien AG. "This investment once again underlines that institutional investors rely on PATRIZIA when investing in various types of use in all phases of the real estate life cycle in different regional real estate markets throughout Europe." PATRIZIA is well positioned continue its growth in Great Britain. Currently PATRIZIA UK is analysing further office and also residential led opportunities in attractive locations across Great Britain.

The three business parks are Hillington Park in Glasgow, Chineham Park in Basingstoke and Birchwood Park in Warrington. Hillington Park is Scotland's largest business park with over 300 companies and 3,500 employees on site. It has two train stations, good motorway access and is only two miles from Glasgow's airport. Chineham Park is southwest of London about halfway to Southampton. This business park, which is geared towards technology companies, is currently home to around 60 businesses that employ around 3,500 employees. Birchwood Park is in the North West of England, close to a motorway intersection. From here, it is a 20-minute drive to Manchester and 30 minutes to Liverpool. There are currently 165 firms and around 6,000 employees based there.

"Each of the three parks is well established. At the same time, they offer significant development potential, as they are situated in highly dynamic regions," said Rob Brook, Head of Portfolio Management PATRIZIA UK. "Over the next few years, we will leverage this potential value with new investments and intensive asset management in cooperation with Oaktree Capital Management."

About PATRIZIA Immobilien AG
With more than 700 employees in over ten countries, PATRIZIA Immobilien AG has been active on the real estate market as both an investor and service provider for 30 years. PATRIZIA's range includes the purchase, management, value increase and sale of residential and commercial real estate. As a recognized business partner of large institutional investors, the Company operates in Germany and other countries and covers the entire value chain in the real estate industry. At present, the Company manages real estate assets worth more than EUR 13 billion, primarily as co-investor and portfolio manager for insurance companies, pension fund institutions, sovereign wealth funds and savings banks. For additional information, please visit www.patrizia.ag.

The Managing Board
Augsburg, 11 August 2014

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
F +49 821 50910-399 F +49 821 509 10-695
investor.relations@patrizia.ag presse@patrizia.ag

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emitter: PATRIZIA Immobilien AG
address: Fuggerstraße 26, 86150 Augsburg
country: Germany
contact person: Verena Schopp de Alvarenga
phone: +49 821 50910-351
e-mail: investor.relations@patrizia.ag
website: www.patrizia.ag

ISIN(s): DE000PAT1AG3 (share)
stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Munich, free market in Hamburg, free market in Dusseldorf, free market in Hannover; open market in Berlin

[ source: http://www.pressetext.com/news/20140811026 ]