DIC Asset AG / Miscellaneous
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The Frankfurt-based DIC Asset AG has now successfully placed co-investment
properties in Hamburg to various investors, at a total volume of 31 million
euros. One office property from the Value-added segment was sold to an
international institutional investor for over 25 million euros. The
property, 15,000 square metres in size, is located in Hamburg in the
district of Stellingen, and is leased long-term to Deutsche Telekom. DIC
Asset AG and MSREF (Morgan Stanley Real Estate Funds) had jointly acquired
the property just under two years ago.
DIC Asset AG was also involved in the sales of three further properties
from its Opportunistic Co-investment portfolio, with a total volume of just
under 6 million euros, which had been acquired from the City of Hamburg as
part of the Primo-Portfolio at the end of 2006. DIC Asset AG had a 20 per
cent stake in these properties.
Ulrich Höller, Chairman of the Board at DIC Asset AG, says: 'The sales form
part of our regular sales activities within the scope of our active asset
management. In this way, we are realising attractive sales opportunities in
order to optimise returns for our investors. With these sales, we can look
back on a very successful business year, and can confirm our profit
forecast for 2007, net income after taxes, depreciation and amortisation at
between 36 million and 38 million euros.'
Further information about DIC Asset AG is available on the internet at
www.dic-asset.de.
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. DIC Asset AG’s real estate portfolio currently includes around 1.3
million square metres of floor space, spread over 350 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. 3.5 billion euros. DIC Asset AG has been listed on the SDAX index
since June 2006.
Investor Relations:
Stephan Gramkow
Grünhof Eschersheimer Landstraße 223
60320 Frankfurt am Main
Fon. +49-69-9454858-39
Fax +49-69-9454858-99
ir@dic-asset.de
21.12.2007 Financial News transmitted by DGAP
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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
Internet: www.dic-asset.de
ISIN: DE0005098404
WKN: 509840
Indices: S-DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Stuttgart, Düsseldorf
End of News DGAP News-Service
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