DIC Asset AG / Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Letter to Shareholders
Dear Madam, dear Sir,
the Frankfurt-based company DIC Asset AG has sold six commercial properties
with floor space totalling 17,000 sqm for a total volume of approximately
EUR 27 million in several transactions. The properties are situated in
prime locations in Hamburg, Berlin, Frankfurt, Mannheim and Bensheim. EUR
16.7 million from this total volume is accounted for by DIC Asset AG,
divided between the Value-added and Opportunistic Co-Investments segments
at EUR 15.2 million and EUR 1.5 million respectively. The transactions
generated interesting value creation, most notably as a result of
refurbishments and the reduction of vacant properties. For the majority of
sales, the corresponding contribution to profits is expected to be realised
in the third quarter of 2008.
The buyers included both private and institutional investors. DIC Asset AG
was advised by various real estate agencies, such as Engel&Völkers, Knight
Frank and RICH Immobilien.
Even though the real estate market is still characterised by a noticeable
degree of reserve, we have managed to successfully continue with our sales
activities, tailored to the current conditions of the market, and at the
same time realise value created. We believe that our focus on adequate
volumes and relevant groups of buyers is thus underlined. Further sales are
a firm part of our strategy and are already in preparation.
Yours faithfully
Ulrich Höller Markus Koch Dr. Jürgen Schäfer
(Board of Directors of DIC Asset AG)
DIC Asset AG
Investor Relations
Stephan Gramkow
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Tel. (0 69) 9 45 48 58-39
Fax (0 69) 9 45 48 58-99
ir@dic-asset.de
03.09.2008 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), Hannover,
Hamburg; Freiverkehr in Berlin, Düsseldorf, München,
Stuttgart
End of News DGAP News-Service
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