DIC Asset AG: DIC Asset AG: Successful Letting of 6,000 sqm in 'Lighthouse'. Full occupancy achieved
DGAP-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset AG: Successful Letting of 6,000 sqm in "Lighthouse". Full occupancy achieved
Frankfurt am Main, 17. September 2018. DIC Asset AG, one of Germany's leading listed property companies just reported the successful letting of the "Lighthouse" commercial property in Frankfurt's Bockenheim district, achieving full occupancy for this asset in the company's proprietary portfolio. A public-law corporation was acquired as a long-term tenant with a 15-year lease term covering an area of around 6,000 square meters in the former headquarters of Deutsche Börse AG.
The office building, which is located in the Industriehof commercial area in Frankfurt's Bockenheim district, has been part of the DIC Asset AG portfolio since 2006 and has a lettable area of around 14,500 sqm. The flexible floor plan structure, the great location in terms of infrastructure and the excellent quality standard of the offices attracted tenants from the most diverse industries to the brightly day-lit property over the past years. Among the incumbent tenants are BTZ Rhein-Neckar, a vocational training centre, the head office of STA Travel GmbH and RGM Facility Management GmbH. The new tenant will soon occupy a floor area of around 6,000 sqm. Once this tenant has moved in, the building will be fully occupied. The weighted average lease term (WALT) lengthened from 4.2 years to now 6.3 years. The transaction was facilitated in an advisory role by real estate service provider Savills, who had already facilitated the letting deal with BTZ last year.
"Our professional in-house property and asset management team succeeded in reviving the Lighthouse building in recent years, after Deutsche Börse vacated it. The decision to restructure the property into a multi-tenant building helped to steadily bring down the vacancy rate. With the new tenant moving in, the objective of restoring full occupancy has now been accomplished. This means that the value of the property and the income from the Commercial Portfolio has been secured long-term," said Sonja Wärntges, CEO of DIC Asset AG.
For more details on DIC Asset AG, go to the internet at www.dic-asset.de.
About DIC Asset AG:
In its Commercial Portfolio division (EUR 1.6 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 1.8 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 1.6 billion in assets under management) are strategic financial investments, the management of properties in which the company holds no equity stakes, equity investments in property developments and joint venture investments. 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; Luxembourg Stock Exchange|
|End of News||DGAP News Service|