Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Patrizia AG    PAT   DE000PAT1AG3

PATRIZIA AG

(PAT)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Patrizia Immobilien : acquires office campus in Düsseldorf

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/03/2018 | 03:29am EST
  • Four fully let buildings offering 13,000 sq m of office space
  • A market characterised by falling vacancies and increasing rents due to lack of supply
  • Acquisition increases volume of PATRIZIA's third commercial real estate fund to EUR 400m

PATRIZIA Immobilien AG announces that it has acquired an office campus comprising four fully let buildings in the Kennedydamm area of Düsseldorf, Germany, from Warburg-HIH Invest Real Estate in a 100% asset deal on behalf of one of its special commercial real estate funds, 'PATRIZIA Gewerbe-Immobilien Deutschland III'. The purchase price has not been disclosed.

Daniel Dreyer, PATRIZIA's Head of Acquisitions Commercial, commented: 'We have seen increasing investment activity in the submarket of Kennedydamm due to the lack of supply in central Düsseldorf locations and the positive development of such secondary locations, particularly in terms of falling vacancy levels and increasing prime rents. Due to its diversity of industries and the positive underlying fundamentals of the market, Düsseldorf is seen as a long-term stable investment location and this acquisition therefore will deliver significant, sustainable value to our clients.'

This is the third acquisition for the 'PATRIZIA Gewerbe-Immobilien Deutschland III' fund, which is primarily focused on core assets, following the purchase of a modern office complex in Bad Homburg near Frankfurt in March 2018 and the acquisition of the 'Symphony' portfolio, which comprises three high-quality office assets across Hamburg, Frankfurt and Dortmund, in June 2017. The fund now has a volume of around EUR 400 million of commercial assets under management (AUM). In total, approximately 60% of PATRIZIA's almost EUR 40 billion AUM across Europe are commercial assets.

The asset in Düsseldorf is fully let to longstanding main client Grey Germany and the Fresenius private university, with a weighted remaining lease term of more than four years. Known locally as the Ideenbotschaft (embassy of ideas), the asset offers 13,000 sq m of office space across two main buildings and two smaller properties to form a modern, innovative office campus. The three older buildings were constructed in 1893 and underwent extensive renovation in 2008 as part of a comprehensive development of the district, which was completed with a new building. The area of Kennedydamm, north of the city centre, is characterised by optimal transport connections to the inner city as well as to the airport and trade fair, and has an office vacancy rate of just 5.9% - below the 7% average for the whole city.

PATRIZIA Immobilien AG:

PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 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 almost 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.

Disclaimer

Patrizia Immobilien AG published this content on 03 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 July 2018 07:28:02 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PATRIZIA AG
12/06PATRIZIA AG : PATRIZIA buys pan-European logistics portfolio for around EUR 1.2 ..
EQ
12/03PATRIZIA : Recording Star Patrizia Yanguela Releases New Single "For the Night"
AQ
11/14PATRIZIA AG : PATRIZIA Capital Markets Day confirms strong positioning and outlo..
EQ
11/13PATRIZIA AG : PATRIZIA with accelerated business activity in Q3 2019 - guidance ..
EQ
08/06PATRIZIA AG : PATRIZIA with strong H1 2019 performance - guidance for FY 2019 co..
EQ
08/02PATRIZIA AG : Release according to Article 40, Section 1 of the WpHG [the German..
EQ
07/02PATRIZIA AG : Release according to Article 40, Section 1 of the WpHG [the German..
EQ
05/23PATRIZIA IMMOBILIEN AG : Ex-dividend day for final dividend
FA
05/22PATRIZIA IMMOBILIEN : is now called PATRIZIA AG
PU
05/22PATRIZIA IMMOBILIEN AG : Annual General Meeting - PATRIZIA Immobilien AG is now ..
EQ
More news
Financials (EUR)
Sales 2019 346 M
EBIT 2019 102 M
Net income 2019 66,7 M
Finance 2019 275 M
Yield 2019 1,52%
P/E ratio 2019 26,5x
P/E ratio 2020 22,3x
EV / Sales2019 4,28x
EV / Sales2020 3,96x
Capitalization 1 756 M
Chart PATRIZIA AG
Duration : Period :
Patrizia AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PATRIZIA AG
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Average target price 21,71  €
Last Close Price 19,28  €
Spread / Highest target 29,7%
Spread / Average Target 12,6%
Spread / Lowest Target -7,16%
EPS Revisions
Managers
NameTitle
Wolfgang Egger Chief Executive Officer
Theodor Seitz Chairman-Supervisory Board
Klaus Schmitt Chief Operating Officer
Karim Bohn Chief Financial Officer
Alfred Hoschek Deputy Chairman-Supervisory Board