Disclaimer

The real estate funds presented on the website of PATRIZIA AG in the corporate customer area are only geared toward German professional and (semi)-professional investors and not toward private investors.

In the public real estate fund area, real estate funds are listed that are specifically intended for private investors as well as (semi)-professional investors.

Offers exclusively for professional and (semi)-professional investors

The real estate funds presented on the website of PATRIZIA AG in the corporate customer area are only geared toward German professional and (semi)-professional investors and not toward private investors.

Professional investors

Refer to Section 1 (19) no. 32 of the German Capital Investment Code (KAGB)

Investor regarded as a professional client within the meaning of Annex II to Directive 2004/39/EC or who may be treated as a professional client upon request

(Semi)-professional investor

Refer to Section 1 (19) no. 33 of the German Capital Investment Code (KAGB)

A (semi)-professional investor is

a) any investor

aa) who pledges to invest at least EUR 200,000.00,

bb) who states in writing in a document that is separate from the contract on the obligation to invest that said investor is aware of the risks associated with the intended commitment or investment,

cc) whose know-how, experience and expertise is appraised by the AIF management company or the distribution company commissioned by said company without making the assumption that the investor has the market know-how and experience of the investors referenced in Annex II section I of Directive 2004/39/EC,

dd) for whom the AIF management company or the distribution company commissioned by said company is, taking into account the nature of the intended commitment or investment, satisfied that the investor is able to make its own investment decision and understands the associated risks and that such a commitment is reasonable for the investor, and

ee) to whom the AIF management company or the distribution company commissioned by said company confirms in writing that it has performed the appraisal referenced under lit. cc and that the requirements referenced under lit. dd are met,

b) a managing director or employee of the AIF management company named in section 37 (1), provided that said managing director or employee invests in AIFs managed by the AIF management company, or a member of the board of directors or executive board of an externally managed investment company, provided that he/she invests in the externally managed investment company,

c) any investor who pledges to invest at least EUR 10 million in an investment asset,

d) any investor having the legal form of

aa) a public law institution,

bb) a public law foundation or

cc) an undertaking whose majority is held by the federal government or a state government of Germany

if the federal government or the state government is investing or has invested in the respective special AIF at the time the institution, foundation or undertaking makes the investment.

Product range of PATRIZIA GrundInvest KVG mbH

For the real estate funds of PATRIZIA GrundInvest Kapitalverwaltungsgesellschaft mbH shown on the website of PATRIZIA AG in the area of retail customers, the product range is limited to the Federal Republic of Germany.

The real estate funds shown are generally only offered to natural or legal persons, partnerships (unless excluded for the reasons provided below) and foundations but do not constitute offers to sell or a request for an offer (declaration of accession).

Remarks on potential participation hindrances:

Persons who

  • are citizens of the United States, 
  • hold a permanent residence and work permit in the United States ("Green Card").
  • have their habitual residence / domicile or seat in the United States and / or
  • hold or offer a share in an asset with its seat in the United States

cannot participate in the real estate funds that are offered. The foregoing applies equally to all legal persons and commercial partnerships, other partnerships, foundations, trusts or other independent estates established under the law of a U.S. state (regardless of whether they themselves are bearers of rights and obligations under the law of the respective U.S. state) and/or are fully taxable in the United States. Civil-law partnerships, associations and married couples in the form of a civil-law partnership or association or similar partnerships under foreign law may not participate either. Furthermore, in the event that non-risk mixed real estate funds are offered, persons who do not meet the requirements of Sec. 262 (2) no. 2a) and 2b) KAGB may not participate in the respective real estate funds either.

A detailed and complete presentation of the respective range of products and the associated opportunities and risks can only be found in the sales prospectus of the respective offer for participation. The sales prospectus (including any addenda to the same) and the respective current key investor information as well as the last published annual report constitute the only binding sales documentation. This sales information and any other advertising documentation available for the offer for participation can be obtained free of charge from your consultant/broker, from PATRIZIA GrundInvest Kapitalverwaltungsgesellschaft mbH, Fuggerstr. 26 in 86150 Augsburg or downloaded under www.immobilien.patrizia.ag/immobilienfonds.

In the context of an investment in a closed real estate fund, no assurance is given that the investment objectives set out in the sales documents will actually be achieved. It is not possible to draw conclusions for the future developments / results from the (value) development in the past.

A participation in real estate funds issued and managed by PATRIZIA GrundInvest Kapitalverwaltungsgesellschaft mbH is, with regard to natural persons (private investors), generally suitable for investors who

  • want to make a long-term investment,
  • want to invest, depending on the range of products, in one or more properties and thus real values in the context of an entrepreneurial participation,
  • have their exclusive domicile in Germany and are subject to unlimited income tax liability in Germany,
  • hold their participation as taxable private property and do not use any third-party financing.

Interested investors are advised to involve a tax advisor prior to making an investment decision. The tax treatment depends on the personal circumstances of the respective client and may be subject to change in the future.

Interested investors should also be aware

that interests in a closed real estate fund are not traded on a regulated market and the fungibility of the participation is limited for other reasons as well. Investors do not have the right to return interests in a closed real estate fund. Consequently, investors obtaining a participation enter into a long-term commitment.
that an entrepreneurial participation includes risks and may lead to a partial or complete loss of the investment and the offering premium. Investors should therefore read and understand the risk disclosures in the sales documentation prior to making an investment decision.
 

Copyright

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