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DIC Asset AG: Renewal of logistics and office leases for a total floor area of 33,500 sqm

EQS-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset AG: Renewal of logistics and office leases for a total floor area of 33,500 sqm
31.10.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Press release

DIC Asset AG: Renewal of logistics and office leases for a total floor area of 33,500 sqm

  • Early renewal of 26,500 sqm logistics and 7,000 sqm office space
  • Tenants appreciate DIC as creative and reliable partner
  • Optimisation of office property according to ESG criteria

Frankfurt am Main, 31 October 2022. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, completed the early renewal of two lease agreements involving a total floor area of around 33,500 sqm at two portfolio properties, one being a logistics centre in Achim near Bremen and the other an office building in Saalfeld/Thuringia.

“Demand for office and logistics facilities in established locations remains strong. The decision of our tenants to renew their leases early demonstrates once again the confidence tenants have in DIC while also showing that our tenants feel at home in our premises and appreciate us as a reliable and creative partner. By undertaking sustainability-oriented restructuring works at the office building in Saalfeld, we combined value preservation for our stakeholders with environmental conservation,” commented Christian Fritzsche, the Managing Director of DIC Onsite GmbH, a DIC subsidiary.

Details about the lettings:

At the logistics centre in Achim, DIC renewed the lease agreement with the tenant, a German auto maker, for c. 26,500 sqm of warehouse space through 2025. The tenant has occupied the property, which comes with very convenient access to the A27 motorway, since 2017. The remaining warehouse space of about 15,000 sqm is used by Coca-Cola GmbH. Completed in 2017, the logistics centre meets the Gold certification level of the German Sustainable Building Council (DGNB) and is part of the portfolio of the “RLI Logistics Fund – Germany I” open-ended special AIF.

At the office property in Saalfeld, DIC renewed the lease agreement with single tenant ver.di, Germany’s unified service sector union, until 2027. The trade union uses the property of about 7,000 sqm as one of nine training and educational centres in Germany. In conjunction with the lease renewal, DIC agreed with ver.di to undertake energy retrofitting works in the building, which is held in DIC’s Commercial Portfolio, such as an upgrade of the heating system and the conversion of the entire interior lighting system to resource-conserving LED lights.

 

About DIC Asset AG:

DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 357 assets with a combined market value of EUR 14.2 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.

DIC Asset AG has been SDAX-listed since June 2006.

 

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492
ir@dic-asset.de

 



31.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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