PATRIZIA Immobilien AG: PATRIZIA raises results forecast for 2015 and 2016

Augsburg (pta002/14.06.2015/22:20 UTC+2) Key points:
- Income from the sale of Süddeutsche Wohnen will significantly improve PATRIZIA Immobilien AG's operating result for the 2015 fiscal year
- Significant increase in forecast operating result for 2015
- Based on acceptance rates to date, full acquisition of the Scandinavian real estate fund with over 14,000 apartments in Germany and Sweden is highly probable and will impact favourably on results for 2015 and 2016

Augsburg, 14 June 2015. An investment consortium led by PATRIZIA has today signed a contract to sell the Süddeutsche Wohnen Group to Deutsche Annington SE. The transaction is still subject to customary closing conditions. PATRIZIA will receive performance-related compensation on closing, which is expected in the third quarter of 2015. In addition, based on acceptance rates to date for the public takeover offer for the acquisition of shares in Boligutleie Holding III AS and Hyresfastigheter III Gul AB, it is highly probable that the investment thresholds required to exclude the minority shareholders will be achieved. Boligutleie Holding III AS and Hyresfastigheter III Gul AB hold all shares in the real estate fund Hyresbostäder i Sverige III Gul AB, which in turn holds over 14,000 apartments in Germany and Sweden.

In light of the current transactions, PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) is raising its forecast, issued in March 2015, for an increase of around 10% in its operating result compared with the previous year (2014: EUR 50.2 million). The company now forecasts a combined operating result for the 2015 and 2016 fiscal years of at least EUR 200 million. At present, it is not possible to definitively assign the expected contributions to results from the acquisition of Boligutleie Holding III AS and Hyresfastigheter III Gul AB and the planned subsequent sale of the apartments in Germany and Sweden to the 2015 and 2016 fiscal years as it is not yet possible to foresee which properties within the Hyresbostäder i Sverige III Gul AB real estate fund will actually be sold by the end of 2015.

When it publishes its third-quarter figures on 12 November 2015, the Managing Board of PATRIZIA Immobilien AG will provide more precise details on which portion of the expected operating result for 2015 and 2016 can still be achieved in 2015, and which portion will not be achieved until 2016.

End of the ad-hoc announcement

Additional Information

Like other recently completed transactions, today's contract for the sale of the Süddeutsche Wohnen Group (SÜDEWO) to Deutsche Annington SE for an amount of EUR 1.9 billion and the acquisition of the Scandinavian real estate fund Hyresbostäder i Sverige III Gul AB with over 14,000 apartments in Germany and Sweden were not included when calculating the forecast for the 2015 fiscal year, which was issued in March. In light of these events, the forecast for other financial parameters such as the equity ratio and the debt situation at the year-end will also be adjusted. The aforementioned developments will not affect the sell-off of PATRIZIA's own portfolio; the majority of will be completed on schedule by the year-end. The equity that is released as a result will continue to be re-invested in profitable co-investments. Despite the sale of SÜDEWO, the planned net rise of EUR 2 billion in assets under management for 2015 remains valid. The outflow of EUR 1.6 billion from the sale of SÜDEWO will be offset by acquisitions that have already been made and also new acquisitions.

The latest transactions prove that the decisions of recent years to re-invest profits and to instead allow shareholders to participate in the company's success by issuing bonus shares were correct. The available liquidity gives PATRIZIA the required flexibility to decide quickly on large-scale projects without implementing capital increases and to generate sustained added value. The exit from individual co-investments is not a one-off effect and instead forms part of the business model, which lays the foundations for profitable future growth through regular new investments.

The Managing Board
Augsburg, 14 June 2015

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Emitter:	PATRIZIA Immobilien AG Fuggerstraße 26 86150 Augsburg Germany
Contact Person:	PATRIZIA Investor Relations
Phone:	+49 821 50910-369
E-Mail:	investor.relations@patrizia.ag
Website:	www.patrizia.ag
ISIN(s):	DE000PAT1AG3 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Hannover, Munich, Stuttgart