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


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Patrizia Immobilien : with a strong public funds business

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01/16/2019 | 06:24am EDT
  • Ten funds with a total volume of EUR 650 million
  • Nine of the funds are performing better than forecast, the tenth according to plan
  • Five new funds launched in 2018, three of which already fully placed
  • Around EUR 110 million equity deployed in 2018
  • New product category scheduled for 2019

Augsburg, 16 January 2019. PATRIZIA Immobilien AG, the global partner for pan-European real estate investment, can look back on a successful year having expanded its business with public real estate funds through its subsidiary PATRIZIA GrundInvest. In 2018, five new public funds focused on German real estate were launched, the equity for three of which - PATRIZIA GrundInvest Dresden Wohnen, Garmisch-Partenkirchen and Frankfurt Smart Living - has been fully raised while EUR 110 million of equity was deployed.

Overall, PATRIZIA currently manages ten public funds with a total volume of EUR 650 million. The targeted annual payments for nine of the funds exceed forecasts while the tenth fund is performing according to plan. A total of EUR 320 million in equity has been obtained from private and (semi)-professional investors since the establishment of PATRIZIA GrundInvest three years ago.

Andreas Heibrock, Managing Director of PATRIZIA GrundInvest, commented: 'Our public funds business has performed extremely well from the outset. Strong demand, rapid placement and good results reinforce our strategy of using PATRIZIA's network and expertise in the selection, acquisition and management of assets. In 2019, we are specifically planning a new product category that will be primarily pan-European in order to expand our product family and continue our growth.'

Currently on offer: Frankfurt/Hofheim and Berlin Landsberger Allee
The Frankfurt/Hofheim and Berlin Landsberger Allee funds, which were both launched last year, are open to subscriptions; they are currently 60% and 25% subscribed.

The PATRIZIA GrundInvest Frankfurt/Hofheim fund is investing in a local shopping centre in Hofheim, situated between Frankfurt and Wiesbaden. The property was completed in 2010 and is leased to a large number of tenants such as Edeka, Lidl, Müller, H&M, Woolworth and Deichmann. The average remaining lease term is approximately seven years. Annual pay-outs of 4.5% before taxes are targeted over the planned ten-year investment period.

The PATRIZIA GrundInvest Berlin Landsberger Allee fund is a mixed-use building complex in Berlin's attractive Prenzlauer Berg district. It has good transport connections and offers 35,000 sq m of lettable space spread across ten floors and a basement. The different parts of the building, which were modernised in 2015 and 2017 respectively, are fully leased and are used for a hotel, a hostel, retail, offices, a health centre and a parking garage. The weighted remaining lease term is just under ten years. Annual pay-outs of around 4% before taxes are expected based on rental income.

Further information can be found at: http://www.patrizia-immobilienfonds.de

PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager on the European real estate market for over 35 years. PATRIZIA's range includes the purchase, management, value increase and sale of residential and commercial real estate on its own licensed investment platforms. As the global partner of real estate investments in Europe, the company operates throughout Europe for both large institutional investors and private investors. At present, PATRIZIA manages real estate assets worth around EUR 40 billion, primarily as a co-investor and investment manager for insurance companies, pension fund institutions, sovereign funds, savings banks and cooperative banks. Further information can be found at www.patrizia.ag.

Andreas Menke
Group Head of Corporate Communications
Tel.: +49 821 5 09 10 6 55


Patrizia Immobilien AG published this content on 16 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 January 2019 11:23:02 UTC

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Financials (€)
Sales 2019 333 M
EBIT 2019 133 M
Net income 2019 95,1 M
Finance 2019 266 M
Yield 2019 2,52%
P/E ratio 2019 17,80
P/E ratio 2020 16,40
EV / Sales 2019 4,33x
EV / Sales 2020 4,33x
Capitalization 1 709 M
Duration : Period :
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Technical analysis trends PATRIZIA IMMOBILIEN AG
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 22,5 €
Spread / Average Target 22%
EPS Revisions
Wolfgang Egger Chief Executive Officer
Theodor Seitz Chairman-Supervisory Board
Klaus Schmitt Chief Operating Officer
Karim Bohn Chief Financial Officer
Marcus Cieleback Group Head-Research
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