Perial: Market entry in Germany with purchase form Patrizia – L’Etoile Properties advised Perial and will also be responsible for managing the portfolio.

Hessen, Germany, 31 January 2017 – French Asset Manger Perial has entered the market in Germany for the first time and acquired ten properties from public authorities in Hessen for €116mn from a Patrizia fund. The office buildings have 85,000 sqm of lettable area and average rental terms of 14 years. The largest property is that of the police on Wiesbadener Straße and the Statistical Office on Rheinstraße in Wiesbaden. Two properties are located in Bad Hersfeld and the other properties are in Marburg, Kassel, Michelstadt, Friedberg, Gießen, and Korbach. They come from the Leo portfolios, which Patrizia acquired in 2013/14. The total property area is approx. 200,000 sqm. Perial will add the properties to its open-ended fund PFO2. BNP Paribas Real Estate brokered the deal. BayernLB acted as the financier in the transaction. LPA-CGR (Paris and Munich) was mandated for legal counsel, Albrings & Müller with regards to building engineering, and BUK for environmental investigations.

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