DIC Asset successfully realises several disposals even in difficult market environment
DIC Asset AG / Miscellaneous
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In spite of the difficult market environment, the Frankfurt-based company DIC Asset AG (WKN 509840/ ISIN DE0005098404) has turned over a total volume of EUR 36 million with several selling transactions concerning the sale of commercial real estate in Bavaria, Berlin and the Ruhr area. In each case, last year's book and market values of the properties were exceeded.
The largest of the properties sold was the headquarter of Pfleiderer AG in Neumarkt, Bavaria, which DIC acquired in 2005. The architecturally attractive administration building (architect: Hadi Teherani) with 9,500 sqm office space was sold to a private investor.
In Berlin, five smaller office properties were sold to a private investor. The properties are in locations such as the Teltower Damm, Mariendorfer Damm and Golzstraße.
In addition, DIC Asset sold a major hypermarket in the greater Paderborn area to an institutional investor.
For the majority, realisation of the relevant income can still be expected in the fourth quarter of 2008. DIC Asset was advised in the Pfleiderer and Paderborn transactions by the brokers Brockhoff & Partner in Essen, and in the disposal in Berlin by the brokers Engel & Völkers.
CEO Ulrich Höller: 'These disposals put us on the finishing straight for 2008. They provide the proof that our sales strategy and our network are effective even in an extremely difficult market environment and that profits can be made.'
Further information about DIC Asset AG is available on the Internet at www.dic-asset.de.
About DIC Asset AG
Established in 2002, DIC Asset AG, with registered office in Frankfurt am Main, is a real estate company that focuses exclusively on investing in German commercial real estate and maximising earnings from its investments. DIC Asset AG's real estate portfolio currently includes around 1.3 million sqm of floor space, spread over 340 properties. The portfolio is divided into three segments: The Core portfolio includes the proprietary portfolio held on a long-term basis and offering stable, attractive rental yields; the Value-Added portfolio contains real estate with promising performance potential over the medium term; while the Opportunistic Co-Investments portfolio is comprised of real estate investments that have a more pronounced risk/return profile, which are placed with third parties following a repositioning under an individual business plan. Real estate assets under management currently amount to approx. EUR 3.5 billion. DIC Asset AG has been listed on the SDAX index since June 2006. 17.12.2008 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); Freiverkehr in Berlin, Hannover, Stuttgart, München, Hamburg, Düsseldorf
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