DIC Asset AG buys another two assets, and winds-up joint ventures as planned
DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate
21.12.2017 / 08:00
Frankfurt/Main, 21 December 2017. DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4) just acquired an office property on Neumarkter Strasse in Munich and an ensemble of three buildings on Frankfurter Strasse / Alfred-Herrhausen-Allee in Eschborn. The purchase price paid for the assets totalled more than EUR 100 million. The asset in Munich’s Berg am Laim district covers a lettable area of 18,300 square metres plus 247 parking spots, and is fully occupied. The ensemble of three office buildings in Eschborn, a northern suburb of Frankfurt am Main, is occupied to 93 percent, and has a gross lettable area of around 19,200 square metres along with 520 parking spots. The ensemble of office buildings in Eschborn was sold by a joint venture between Phoenix Real Estate and Art-Invest Real Estate. The anchor tenant of this multi-tenant property is Deutsche Bank.
At the same time, the wind-up of the joint-venture assets that will no longer match the strategic orientation of DIC Asset AG is under way. A property on Langenhorner Chaussee in Hamburg and another property on Adolph-Prior-Strasse in Frankfurt were successfully sold for a sum total of EUR 22.6 million.
“We continued to prosper with our specific acquisition strategy in an exciting market environment, and managed to buy another two excellent assets for our Warehousing portfolio in addition to the acquisition in Hamburg. Accordingly, the pipeline is well-stocked for special funds yet to be launched. By selling the two assets in Hamburg and Frankfurt, respectively, we made good progress with the ongoing wind-up of our joint-venture participations, and will now intensify our focus on implementing the strategy we pursue in our core business,” said Sonja Wärntges, CEO of DIC Asset AG.
Colliers International Deutschland GmbH plus BNP Real Estate and GSK Stockmann advised the company on the acquisitions. Hinsch & Völckers Hamburg and Colliers International Frankfurt as well as php Frankfurt acted as advisers during the sales.
For more details on DIC Asset AG, visit the company’s homepage at www.dic-asset.de.
About DIC Asset AG:
In its Commercial Portfolio division (EUR 1.5 billion in assets under management), DIC acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio. The Funds division (EUR 1.5 billion in assets under management) generates its revenues by acting as issuer and manager of special real estate funds for institutional investors. Gathered in the business unit Other Investments (EUR 0.3 billion in assets under management) are joint venture investments, equity investments in property developments, strategic financial investments, and the management of properties in which the company holds no equity stakes.
DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company’s shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies.
21.12.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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|Company:||DIC Asset AG|
|Neue Mainzer Straße 20 * MainTor|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1462|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A1TNJ22, DE000A12T648|
|WKN:||A1X3XX, A1TNJ2, A12T64|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxemburg|
|End of News||DGAP News Service|