DIC Asset AG proceeds successful sales strategy
DIC Asset AG / Miscellaneous
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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.
Ulrich Höller Markus Koch Dr. Jürgen Schäfer
(Board of Directors of DIC Asset AG)
DIC Asset AG
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Tel. (0 69) 9 45 48 58-39
Fax (0 69) 9 45 48 58-99
03.09.2008 Financial News transmitted by DGAP
Issuer: DIC Asset AG
Eschersheimer Landstr. 223
Phone: +49 69 9454858-0
Fax: +49 69 9454858-99
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hannover, Hamburg; Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
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