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MarketScreener Homepage  >  Equities  >  Xetra  >  Patrizia Immobilien AG    PAT   DE000PAT1AG3

PATRIZIA IMMOBILIEN AG

(PAT)
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Patrizia Immobilien : acquires high-quality Dutch logistics portfolio for EUR 130.8m

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05/02/2019 | 02:43am EDT
  • c.131,000 sq m of prime logistics space across three locations in the Netherlands
  • Will deliver secure, sustainable income

Augsburg, 2 May 2019. PATRIZIA Immobilien AG, the global partner for pan-European real estate investment, has acquired a portfolio of logistics properties spread across three key locations in the Netherlands from DHG, the Rotterdam-based real estate investor and developer, for EUR 130.8 million on behalf of PATRIZIA Logistik-Invest Europa II (the 'Fund').

The portfolio, which was completed this year, comprises around 131,000 sq m of prime logistics space and includes assets in Rotterdam, Moerdijk and Bergen op Zoom, all of which are located on the key logistics corridor that passes from the Rotterdam Port through the south of the Netherlands. A large part of the portfolio is suitable for handling of hazardous goods (ADR), a rapidly growing market segment due to stricter laws and regulations.

Emile Poort, Head of Transactions Benelux at PATRIZIA, commented: 'This is a very attractive investment which will deliver secure and sustainable income for our clients. These properties are positioned in top logistics locations with direct access to Europe's largest port.'

Nicolai Soltau, Fund Manager at PATRIZIA, commented: 'With this acquisition, we have built a portfolio of 18 properties for the Fund within just seven months - a demonstration of our deep access to the market and the speed at which we are able to execute transactions given the strength of our enlarged logistics team following the integration of recent corporate acquisitions.'

The Fund targets conventional, e-commerce and urban logistics assets throughout Europe. This latest portfolio follows other recent logistics acquisitions across Germany and the Netherlands. In addition, its predecessor fund, Logistik-Invest Europa I, is now fully invested having officially placed the final investment, a forward purchase of a logistics asset in Amsterdam, during the first quarter of 2019. In total, across Europe PATRIZIA now manages more than EUR 2 billion of logistics assets.

PATRIZIA was advised by Appelhoven Vastgoedadviseurs (commercial) CBRE (technical) and Loyens & Loeff (legal). TLF Real Estate (commercial) and Loyens & Loeff (legal) acted on behalf of DHG.

PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 35 years. PATRIZIA's activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages more than EUR 40 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.

Contact:
Andreas Menke
Head of Corporate Communications
Phone: +49 (0) 821 5 09 10-6 55
press(at)patrizia.ag

Disclaimer

Patrizia Immobilien AG published this content on 02 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 May 2019 06:42:09 UTC

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Financials (EUR)
Sales 2019 340 M
EBIT 2019 106 M
Net income 2019 73,9 M
Finance 2019 268 M
Yield 2019 1,74%
P/E ratio 2019 21,1x
P/E ratio 2020 18,4x
EV / Sales2019 3,75x
EV / Sales2020 3,40x
Capitalization 1 540 M
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Average target price 21,39  €
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