News Detail - DIC Assets

DIC places property portfolio with INOVALIS


DIC Asset AG / Disposal



Announcement transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.

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.


About DIC

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.


DIC/Investor Relations:
Stephan Gramkow
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Fon. (069) 27 40 33-10
Fax (069) 27 40 33-70
ir@dic-asset.de 


DGAP 08.01.2007 

 
Language:     English
Issuer:       DIC Asset AG
              Eschersheimer Landstr. 223
              60320 Frankfurt Deutschland
Phone:        069 / 274033-0
Fax:          069 / 274033-69
E-mail:       info@dic-asset.de
WWW:          www.dic-asset.de
ISIN:         DE0005098404
WKN:          509840
Indices:      S-DAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, München, Stuttgart, Düsseldorf  
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