News Detail - DIC Assets

DIC Asset AG: transaction volume in 2010 already stands at EUR 107 million

DIC Asset AG  / Key word(s): Disposal

20.10.2010 08:30

DIC Asset AG has now sold a retail property situated in a top location in the centre of Flensburg for some EUR 29 million to an international institutional investor. The group of buildings, which has a let-table area of some 7,000 sqm, is nearly fully let. The transaction was brokered by Jones Lang LaSalle. DIC Asset acquired the property in 2007 with the purchase of a portfolio.

With the sale of this property, DIC has realised EUR 107 million from property transactions since the beginning of the year. In total it has sold 25 properties offering lettable space of 56,000 sqm since the start of 2010. As a result, it has already significantly exceeded its transaction target, which was set in August 2010, of at least EUR 80 million. At the end of the first half of 2010, sales stood at EUR 36 million.
Ulrich Höller, CEO of DIC Asset AG: 'This deal is a further indication of the significant firming in the investment market since the middle of the year. Following the small-volume sales of the last two years, which were forced upon us by the crisis, larger-scale transactions on reasonable terms are now possible once more.'

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. Real estate assets under management currently amount to approx. EUR 3.2 billion. DIC Asset AG's real estate portfolio includes around 2 million square metres of floor space, spread over 307 properties. The portfolio is divided into three segments: the 'Core plus' 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. DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. 

Investor Relations & Corporate Communications:
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Eschersheimer Landstraße 223
60320 Frankfurt am Main
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Fax +49-69-9454858-99

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Language:     English
Company:      DIC Asset AG
              Eschersheimer Landstr. 223
              60320 Frankfurt
Phone:        +49 69 9454858-0
Fax:          +49 69 9454858-99
ISIN:         DE0005098404
WKN:          509840
Indices:      S-DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Hamburg, München, Düsseldorf, Berlin, Stuttgart, Hannover  
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