News Detail - DIC Assets

DIC Asset AG successfully placed portfolio

DIC Asset AG / Miscellaneous

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

The Frankfurt-based DIC Asset AG has now placed a portfolio consisting of ten commercial properties and an overall area of around 60,000 sqm to two Luxembourg investors advised by Westcity PLC and AXA REIM at a price of approximately EUR 86 million. The objects, primarily used as office buildings, are mainly located in mid-sized German cities such as Bochum, Gelsenkirchen, Ulm, Regensburg, Ingelheim and Neuss. Approximately 95% of the properties are currently let. The average lease term is three to four years. The transaction that was named ‘Mustang’ was offered as part of a limited proceeding. The transaction is partially a share deal and partially an asset deal. The buyers were advised by Knight Frank, the sellers by Colliers Trombello Kölbel.

CEO Ulrich Höller: 'The sale underlines our strategy of actively managing our portfolio and is part of our regular sales activities. This sale optimizes our current portfolio diversification, especially from a regional viewpoint.'

About DIC Asset AG

Established in 2002, DIC Asset AG, with registered offices in Frankfurt/Main, is a real estate company with a dedicated investment focus on commercial real estate in Germany, pursuing a return-oriented investment policy. With this transaction, DIC Asset AG’s real estate portfolio includes more than one million sqm of floor space, spread over 283 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 will be placed with third parties following a repositioning under an individual business plan. Real estate assets under management currently amount to approx. EUR 2.6 billion. DIC Asset AG has been included in the SDAX® segment of the Frankfurt Stock Exchange since June 2006.
Investor Relations:
Stephan Gramkow
Grünhof - Eschersheimer Landstraße 223
60320 Frankfurt am Main
Fon. +49-69-9454858-39
Fax +49-69-9454858-99 

DGAP 27.04.2007 

Language:     English
Issuer:       DIC Asset AG
              Eschersheimer Landstr. 223
              60320 Frankfurt Deutschland
Phone:        +49 69 9454858-0
Fax:          +49 69 9454858-99
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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