DIC Asset AG Acquires Two Office Properties for 'Office Balance II'
DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate
DIC Asset AG Acquires Two Office Properties for "Office Balance II"
Frankfurt/Main, 15 December 2017. DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4) just acquired one office property each in Dortmund and Bremen for its "DIC Office Balance II" institutional real estate fund for a combined total of c. EUR 30 million. Both assets are multi-tenant properties centrally located in their respective cities. The lettable area of the property in Dortmund, which is located on Königswall across from the central railway station, totals around 4,800 square metres. One of its anchor tenants is the Continentale BKK insurance company. The building on Bahnhofstrasse in downtown Bremen comprises a lettable area of around 8,000 square metres. Both properties show an occupancy of around 93 percent.
"The properties in Dortmund and Bremen are an excellent portfolio addition for the Office Balance II. We see potential in either property, and will use our in-house asset- and property management platform to improve their performance in a sustainable manner, and thereby to generate the highest possible returns for our investors," said Sonja Wärntges, CEO of DIC Asset AG.
By purchasing its twelfth and thirteenth assets, the DIC Office Balance II, which is backed by an equity volume of c. EUR 200 million, just expanded its fund volume to c. EUR 320 million. The investment focus of the fund, which belongs in the successful "Office Balance" series of DIC Asset AG, is on commercial real estate predominantly used as offices in major and mid-size cities in Germany.
PricewaterhouseCoopers and Graf von Westphalen as well as JLL and Noerr LLP acted in an advisory role.
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.
|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|