info@dic-asset.de

+49 69 9454858–0

DE

DIC Asset AG acquires German portfolio from SEB Immobilien-Investment GmbH

DIC Asset AG / Miscellaneous

Announcement, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
----------------------------------------------------------------------

The Frankfurt-based real-estate investment company DIC Asset AG acquired a
diversified property portfolio with 26 objects and around 263,000 sqm of
floor space from the SEB Immobilien-Investment GmbH investment company in a
bidding contest, which was advised by CB Richard Ellis. The total
investment sum, including transaction costs, is around EUR 460 million.
Both sides agreed to maintain silence about the exact purchase price. The
newly acquired office and commercial properties are located in various
German cities such as München, Hannover, Duisburg, Darmstadt, Essen,
Mannheim and Hamburg. The objects are predominantly leased to prime tenants
such as the Federal State of Hessen, the Deutsche Bahn, GE Money Bank and
Saturn. The average lease length is approximately seven years. The rental
income of EUR 26.5 million p.a. ensures a solid cash flow base for DIC
Asset AG. DIC Asset AG plans to reduce the current vacancy rate of 15%. The
portfolio diversification of 60% offices, 18% retail and other commercial
real estate such as logistics ideally fits the investment strategy of DIC
Asset AG. The individual properties will be included in both the core as
well as the value-added segment of the company and portfolio strategy. DIC
Asset AG was advised by Landesbank Berlin AG during the transaction.

Ulrich Höller, Chairman of the Board (CEO) of DIC Asset AG: ' The purchase
of this valuable portfolio is the start of the announced implementation of
our third strategy level, which will be characterised by significant market
penetration. We are planning further acquisitions this year with a total
investment volume of at least one billion euro.'


'With this sale, we have used the current market conditions to optimise our
portfolio. In the course of growth, it was important for us to reduce the
number of smaller objects from the early days of the fund. The sale will
positively affect performance', Barbara Knoflach, Chairman of the Board of
the SEB Asset Management AG and Managing Director of the SEB Immobilien
Investment GmBH explained this strategic step. SEB wants to continue taking
advantage of domestic investment opportunities for their internationally
oriented funds. 'Even after the transactions are complete, Germany, with
around 50 objects, remains an important market for the SEB funds.'



About DIC Asset AG

Established in 2002, DIC Asset AG, with registered offices in
Frankfurt/Main, is a real estate company with a dedicated investment focus
on commercial real estate in Germany, pursuing a return-oriented investment
policy. With this transaction, DIC Asset AG’s real estate portfolio
includes more than one billion sqm of floor space, spread over 288
properties. The portfolio is divided into three segments: the Core
portfolio includes the proprietary portfolio held on a long-term basis and
offering stable, attractive rental yields; the Value-Added portfolio
contains real estate with promising performance potential over the medium
term; while the Opportunistic Co-Investments portfolio is comprised of real
estate investments that have a more pronounced risk/return profile, which
will be placed with third parties following a repositioning under an
individual business plan. Real estate assets under management currently
amount to approx. EUR 2.6 billion. DIC Asset AG has been included in the
SDAX segment of the Frankfurt Stock Exchange since June 2006.



About SEB Immobilien Investment GmbH

The real estate investment company, SEB Immobilien-Investment GmbH, belongs
to SEB Asset Management Deutschland, a part of the SEB concern.  The
business segments of SEB Immobilien-Investment GmbH comprise funds,
portfolio and real estate management, including commercial and technical
building management. It currently administrates a fund asset of around EUR
6.3 billion in three real estate mutual funds.
SEB Asset Management stands for the combination of international expertise
with local know-How. Our investment approach is characterised by active
management in small, specialised investment teams. SEB Asset Management
manages a volume of EUR 19.7 billion in the form of mutual funds, special
funds and discretionary portfolio management (as of the end of 2006).



DIC Asset AG/Investor Relations
Stephan Gramkow
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Fon. (069) 9 45 48 58-39
Fax (069) 9 45 48 58-99
ir@dic-asset.de 






DGAP 06.04.2007 
----------------------------------------------------------------------
 
Language:     English
Issuer:       DIC Asset AG
              Eschersheimer Landstr. 223
              60320 Frankfurt Deutschland
Phone:        +49 69 9454858-0
Fax:          +49 69 9454858-99
E-mail:       info@dic-asset.de
www:          www.dic-asset.de
ISIN:         DE0005098404
WKN:          509840
Indices:      S-DAX
Listed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
              Berlin-Bremen, München, Stuttgart, Düsseldorf
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------
go back