DIC places property portfolio with INOVALIS
DIC Asset AG / Disposal
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At the end of 2006 the Frankfurt-based DIC Group (Deutsche Immobilien Chancen) has signed a contract with the French property investor INOVALIS (with registered offices in Paris) to sell a portfolio of 48 properties with a total floor space of 70,000 sqm at a price of around EUR 90 million. Half the properties came from the portfolio of the Frankfurter Sparkasse (acquired by DIC in 2004), whilst the other half came from the MEAG portfolio (acquired by DIC in 2005). The major geographic locations of the portfolio are in West Germany (Bremen, Kiel, Trier) and Frankfurt. The portfolio consists almost exclusively of office and retail properties. Around 90 per cent of the properties are let. In addition to its extensive acquisition activities, as part of its active asset management policy, DIC regularly appears on the market as a seller of properties.
DIC (Deutsche Immobilien Chancen) was founded in Frankfurt in 1998 and, with its innovative investment philosophy and its focus on the German market, is one of the most prominent and successful firms in Germany specializing in commercial real estate transactions. Its business activities include portfolio and asset management, which is handled by its prime standard listed company, DIC Asset AG, project development and opportunistic investments. The real estate assets managed by the DIC group currently amount to over EUR 2.3 billion. Its shareholders are investment companies, institutional investors (such as Morgan Stanley) and private investors with a family background in industry.
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Fon. (069) 27 40 33-10
Fax (069) 27 40 33-70
Issuer: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt Deutschland
Phone: 069 / 274033-0
Fax: 069 / 274033-69
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, München, Stuttgart, Düsseldorf
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