THIRTY YEARS OF PATRIZIA FINDS FROM OUR FIRST YEARS

30
3
0
1 9 8 4 – 2 01 4
THIRTY
YEARS OF
PAT R I Z I A
FINDS FROM
OUR FIRST
30
YEARS
30 YEARS
70 0 E M P L O Y E E S
10 C O U N T R I E S
30
1 9 8 4 – 2 01 4
THIRTY
YEARS OF
PAT R I Z I A
FINDS FROM
OUR FIRST
30
YEARS
OUR GREATEST AND MOST BEAUTIFUL MOMENTS
In more than 10 European
countries, PATRIZIA covers
the entire value chain as an
investor and service provider
for all types of real estate.
No matter what we do, we
always rely on our three core
values: increasing property
value, sustainability, and appreciation for our customers,
partners, and employees.
That’s made us who we are
since 1984.
You can ﬁnd them in any house. // Mostly they’re lying around
somewhere in the attic, collecting dust beneath a rusty bed frame.
Or in a discarded kitchen cabinet left in the cellar. Boxes with all
kinds of odds and ends, keepsakes, and old photos – memories of
a lifetime. At PATRIZIA, we have a box like that too. Inside there’s
a book with our own personal moments of the various stages
we’ve reached to get where we are today. Finds from 30 years,
starting with our founding in 1984. So join us in browsing through
our story, enjoying the memories of the greatest and most beautiful moments in the history of PATRIZIA Immobilien AG.
We hope you enjoy the journey!
We always act in the interests of the
owner.
Wolfgang Egger / Founder and CEO
W H AT M A K E S
US SO
VA LUA B L E A S
PARTNERS AND
ADVISERS:
30
FINDS
FROM
OUR FIRST
30
YEARS
PAT R I Z I A
FIND
01
YEAR
1984
FACTS
>
>
>
>
>
Founded:1984
Founder’s age: 19
Employees: 1
City: Augsburg
Slogan: “Home ownership
for small change”
> First project: Purchase
of 6 ﬂats
PAT R I Z I A I S F O U N D E D / / AU G S B U R G
Good stories always start at the beginning. So we’ll dust oﬀ the cover, open
to the ﬁrst page, and start with chapter one. // For Wolfgang Egger it may
seem like only yesterday. But in fact it’s already been 30 years since he founded
PATRIZIA in Augsburg. He did the math for his friends, and said it must be much
more profitable to buy a flat than to pay rent for an entire life. And the equation
worked. Wolfgang Egger bought a building of six flats, and was able to privatise
all of them. And so PATRIZIA was born. The name is based on the grand urban
mansions of the patrician traders. As is the logo, a stylised lily. The motto was
catchy as well: “Home ownership for small change”.
PAT R I Z I A
FIND
02
YEAR
1997
FACTS
> Project: Senior living
> Time:1997 to 1998
> Volume: 136 residential
units
> Friedrich List (1789 –1846):
Economic theorist
S TA DT R E S I D E N Z F R I E D R I C H - L I S T
AUGSBURG
Let’s skip ahead a few pages. After years of mercantile tradition, 1997
saw an important turning point for PATRIZIA. // We won a bid for a major
building project. The entire team was driven by ambition. Once again it was time
to create something new with our own hands. It needed to be barrier-free while
bringing young and old together under one roof. And through much inspiration,
perspiration, and diligence, we were able to create a masterpiece – Stadtresidenz
Friedrich-List, right in the heart of Augsburg. Architecture designed for real-life
comfort. From then on one thing led to another, and our next big coup came
just one year later.
PAT R I Z I A
FIND
03
YEAR
1998
FACTS
> Project: Residential property
privatisation
> Former owner: Bayerische
Versorgungskasse
> Time:1998 to 2005
> Volume: 28 buildings
with 769 residential and
3 commercial units
> Size of ﬂats: 1 to 5 rooms
O LY M P I A - P R E S S E S TA D T / / M U N I C H
On 15 January 1998 we opened a new chapter that goes on for several
pages. The Olympia-Pressestadt was a project we worked on for seven
years. // The next sensation came. Just a few months after the Stadtresidenz
project, we won the bid for our first major project: PATRIZIA bought the “Pressestadt” used during the Olympic Games in Munich, thus adding 760 residential
units to our portfolio. The goal: privatise the units built for the journalists. While
modernising the property, we employed the color scheme used by Otl Aicher,
whose design characterised the “Rainbow Games”. We bid farewell to the Pressestadt when the last unit was sold in 2005. Since then, our journey has been
shaped by smaller and larger projects.
HAMBURG
AUGSBURG
MUNICH
NEPAL
UGANDA
PERU
RWANDA
MOROGORO
PERAMIHO
GRABOUW
PAT R I Z I A
FIND
04
YEAR
1999
FACTS
> Founded: December 1999
> First project: Support
the Benedictine Mission
Peramiho in Tanzania,
opened in November 2002
> Children’s homes: 11
> Cities: Hamburg, Augsburg (2),
Munich, Rwanda, Uganda,
Tanzania (2), South Africa,
Nepal, Peru
> Scope: New living space for
over 150,000 children so far
> Anniversary: The KinderHaus
Foundation turns 15 in 2014
KINDERHAUS-STIFTUNG // AROUND THE
WORLD
This entry starts a very special chapter in the PATRIZIA story. It reminds us
not to take our success and prosperity for granted. // When Wolfgang Egger
founded the non-profit PATRIZIA KinderHaus Foundation in 1999 with the words
“Children are our future”, it was an act of love. Within the foundation, PATRIZIA
looks after the interests of disadvantaged children and youth. Soon there will be a
total of eleven Children's homes providing adequate housing mostly in Africa, but
also in Germany. Many PATRIZIA employees do volunteer work for the foundation.
Since it was founded, Children's homes have been built around the world, and
each one of them is a precious part of PATRIZIA.
PAT R I Z I A
FIND
04
02
1999
2000
PAT R I Z I A
FUNDSTÜCK
YEAR
ORIGINAL
AUS
NEPAL
SOUTH
AFRICA
At 2,000 metres elevation, in the small mountain village of Kattike,
the sixth KinderHaus
opened in April 2012.
It includes a school for
grades 5 to 8.
HAMBURG
Relearning everyday
life: in the Wilhelmstift
Catholic Hospital,
children learn how to
deal with their illnesses.
The “Village of Hope”
opens new perspectives,
focusing on young
people living with HIV
or who have lost their
parents to AIDS.
PERAMIHO
The quarantine ward
with its 64 beds serves
a great purpose. So far
more than 150,000
children have received
medical care there.
RWANDA
Living and learning under
one roof: in Ntarama,
children no longer need
to walk for hours just to
go to school.
PAT R I Z I A
FIND
05
YEAR
2000
FACTS
>
>
>
>
Project: Modernisation
City: Outer Alster, Hamburg
Time:1999 to 2000
Volume: 3,000 sqm
on five ﬂoors
> Real Estate Award 2003:
Top 3
PAT R I Z I A KO N T O R / / H A M B U R G
A new page and a wonderful memory. In the ﬁrst year of the new millennium, our branch in Hamburg created quite a stir. We added our own architectural accent to the city. // No cold, sterile office building. That was our aim
for our new branch in Hamburg. So we pulled all the stops and turned a 100-yearold building into a jewel of our liking: a “club office” feel with lots of architectural
refinement. Today the building still bears our name: PATRIZIA Kontor. The glass
facade is still an eye-catcher, and our concept placed us among the Top 3 for the
Real Estate Award 2003. That was our ﬁrst award. But not our last.
PAT R I Z I A
FIND
06
YEAR
2004
FACTS
> Luxembourg: 2004
> Other PATRIZIA oﬃces in
Europe: Copenhagen,
Dublin, London, Paris,
Stockholm
I N T E R N AT I O N A L I S AT I O N / / E U R O P E
LUXEMBOURG
2004 was a year of excitement and turbulence. We took our ﬁrst step
outside Germany, and laid the cornerstone for our international breakthrough. // The courage to take new paths. That’s what we proved with our first
branch in Luxembourg. After months of planning and considering risks and opportunities, we made an important decision: PATRIZIA will go international. And the
success speaks for itself. On the heels of Luxembourg followed the UK, France,
the Scandinavian countries, and Ireland. Today we’re on solid ground in each one
of these markets, and our foreign investors rely on us as a strong partner. And the
PATRIZIA family has continued to grow since then. Our next big appearance on
the international stage came just two years later.
N
LUXEMBOURG
49° 47' 37'' N
6° 6' 23'' E
S
PAT R I Z I A
FIND
07
YEAR
2006
FACTS
>
>
>
>
>
>
>
IPO: 31 March 2006
Issue price: 18.50 euros
Opening price: 19.55 euros
Closing price: 21.18 euros
Volume: 47,700,000 shares
ISIN: DE000PAT1AG3
WKN: PAT1AG
PAT R I Z I A I S L I S T E D O N T H E F R A N K F U R T
STOCK EXCHANGE
The 31st of March 2006 was a ﬁrework of emotions: nervousness, suspense,
and a loud cheer. The memory of that day is still alive in our minds. //
PATRIZIA’s IPO was a huge success, and we celebrated our victory. The share
achieved a top price and attracted the attention of international investors. And
for days and weeks, the success story continues. Shortly thereafter, we were
included in the MDAX Prime Segment. Our IPO opened up a new world of opportunity for us. Many major projects were now easier to realise. And whoever is
interested can become a PATRIZIA shareholder and beneﬁt from our continued growth.
5,972.03/DAX
21.18/
21.18
/
5,970.08/
5,993.90/
5,942.88/
OPENING
31.03.2006
PATRIZIA
SHARES
CLOSING PRICE
TODAY'S HIGH
TODAY'S LOW
PAT R I Z I A
FIND
08
YEAR
2007
FACTS
> Project: 4-star hotel
> City: Schanzenviertel,
Hamburg
> Time: 2004 to 2007
> Height: 52 metres
> Volume: 16 ﬂoors with
226 rooms
> MIPIM Award: 2008 award
at one of the world’s largest
property trade fairs in Cannes
HOTEL WASSERTURM // HAMBURG
The Wasserturm, a water tower in Hamburg, has a very special place in our
book. This hotel was and is a sensation. // An ageing giant. That’s what this
water tower was when we began remodelling it in January 2005. We had great
plans for it: it would shine in new splendour as a hotel. We worked with Mövenpick Hotels & Resorts to breathe new life into these old walls. Two years later it
opened its doors for the first guests. And international experts were impressed
by the results. The Wasserturm Hotel was the only German project to win the
“Real Estate Oscar” in Cannes at one of the world’s largest property trade fairs.
We were very, very proud.
MIPIM
AWARD
2008
Award at one of
the world’s largest
property trade
fairs in Cannes:
MIPIM – Marché
international des
professionnels
de l’immobilier
PAT R I Z I A
FIND
08
YEAR
2007
SALE
PAT R I Z I A
FIND
09
YEAR
2010
FACTS
> Founded: 2001
> Employees: 49
> Former owner:
HSH Real Estate AG
> Real estate assets managed:
2.5 billion euros
> Investments: France,
BeNeLux countries, central
and eastern Europe,
Scandinavia, UK, USA
PAT R I Z I A B U YS L B I M M O I N V E S T
HAMBURG
We also started on a new journey in 2010 with the acquisition of LB Immo
Invest, a commercial property company. // A step in seven-league boots.
That’s what the acquisition of LB Immo Invest felt like. Our portfolio grew to include business properties, which meant that, for the first time, we cover all types
of real estate. Suddenly our company grew, not only in the number of employees, but also in market share. Our customers became more international as well.
LB Immo Invest operates in France, the UK, the USA, the Scandinavian and BeNeLux countries, and in central and eastern Europe. For PATRIZIA, it was a big
step towards a secure future.
PAT R I Z I A
FIND
10
YEAR
2012
FACTS
> Day: 14 February 2012
> Residential units: 21,000
> Former owner:
LBBW Immobilien GmbH
> Region: The southern German
state of Baden-Württemberg;
34% in the Stuttgart metropolitan region alone
PAT R I Z I A B U YS L B B W I M M O B I L I E N
STUTTGART
And the story continues. A momentous decision came in 2012. // We continued our pattern of growth. In February we won the bid for LBBW Immobilien
GmbH in the southern German state of Baden-Württemberg. Even though we
had started off as the dark horse, we were able to overtake every other bidder.
Suddenly everyone knew who PATRIZIA was: our name was in the headlines
of nearly every major media source. Together with a consortium of insurance
companies and pension funds, we were able to close on the biggest property
deals in Germany in recent years. LBBW Immobilien GmbH became Süddeutsche
Wohnen (SÜDEWO). The perfect springboard for the next coup, waiting just
around the corner.
R E S T O R AT I O N
PAT R I Z I A
FIND
11
YEAR
2013
FACTS
>
>
>
>
>
Day: 8 April 2013
Residential units: 32,000
Commercial units: 300
Former owner: BayernLB AG
Region: Bayern
PAT R I Z I A B U YS G B W / / B AVA R I A
Our unique story continued through last year as well. The decisive moment
came in April 2013, and it was a potential record-breaker. // We bought
GBW, a subsidiary of BayernLB, and once again sent waves through the media.
Not only in southern Germany. 32,000 residential units and 300 business units
changed hands. This time we had a better starting position than we did when
buying LBBW Immobilien. We were able to outbid our competitors to become the
winners. The stock exchange welcomed the news: our share increased by 13 per
cent, reaching its highest price since November 2007. A great success – and
a great challenge.
32
,0
00
/3
RESIDENTIAL UNITS
/
COMMERCIAL UNITS
00
149,50
0,000
R E N TA L R E C E I P T S *
* 2012 EUR million
PAT R I Z I A
FIND
12
YEAR
2013
FACTS
> Vocational training in real
estate management, oﬃce
management, information
services management
> Cooperative study program
in real estate economics,
Bachelor of Arts
> Total number of vocational
trainees: 42
> 2013 graduation year: 14
> Students: 4
> Sites: 6 in Germany and
Luxembourg
T R A I N E E S ’ DAY / / AU G S B U R G
We dedicate our newest entry to our trainees. They are the future of
PATRIZIA, and bring a breath of fresh air into our team. // The serious side
of life began with great fun for our 18 new arrivals at PATRIZIA. A total of 42 trainees, including four new work-study students, took part in the orientation days at
our headquarters in Augsburg. These young men and women were nervous at
the beginning, but that quickly gave way to an atmosphere of fun and relaxation.
The trainees from different years enjoyed a time of lively conversation over the
barbecue. The orientation days left a lasting impression, and we look forward to
the wonderful moments awaiting us in 2014.
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C O N TAC T
Published by
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany
P +49 821 50910 - 000
F +49 821 50910 - 999
[email protected]
www.patrizia.ag
Press
Andreas Menke
P +49 821 50910 - 655
F +49 821 50910 - 695
[email protected]
Investor relations
Verena Schopp de Alvarenga
P +49 821 50910 - 351
F +49 821 50910 - 399
[email protected]
Concept/design
wirDesign Berlin Braunschweig
Print
deVega Medien GmbH Augsburg
The booklet “Finds from our first 30 years” was published on 27 March
2014 and is also available in German. You will find both versions in PDF
format on our website:
www.patrizia.ag/investor-relations/finanzberichte/geschaeftsberichte
www.patrizia.ag/en/investor-relations/financial-reports/annual-reports
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany
P +49 821 50910 - 000
F +49 821 50910 - 999
[email protected]
www.patrizia.ag

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