DGAP-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset AG: Logistics Property Annex in Kassel Completed
Frankfurt am Main, 29 March 2021. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, just announced the completion of the expanded logistics property in Wolfhagen near Kassel, which was developed through RLI Investors GmbH, the company’s wholly-owned logistics real estate specialist. Planned and developed together with property developer RLI Development GmbH, the logistics asset was completed on schedule. Volkswagen Classic Parts moved into a sub-unit of 5,100 sqm (out of a total area of 10,200 sqm of newly created floor area) during the first quarter of 2021. The logistics centre, which now measures around 30,000 sqm overall, is held in the portfolio of the “RLI Logistics Fund – Germany I” open-ended real estate special AIF.
The logistics property, which would also lend itself to alternative use, sits in a conveniently accessed location in direct proximity to the A44 motorway (east-west) and close to the A7 motorway (north-south). Any place in Germany is within range of same-day goods distribution from here. Major destinations elsewhere in Europe are also within easy reach. The new-build logistics centre meets the highest sustainability standards. For example, glulam timber beams were used for the roof truss, reducing the CO2 footprint by 264 tons. It is intended to have the annex certified under the DGNB sustainability standard.
Volkswagen Classic Parts signed a long-term lease for the mentioned sub-unit well ahead of the building’s completion. The company, which supplies spare parts for Volkswagen youngtimers and oldtimers, has already been at the Wolfhagen / Breuna site since 2017.
About DIC Asset AG
DIC Asset AG is Germany’s leading listed specialist for commercial real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with eight offices on the ground in all major German markets. We manage 225 assets with a combined market value of c. EUR 10.3 billion on site, always close to our properties and their occupiers.
The Commercial Portfolio segment (EUR 2.0 billion in assets under management) represents the proprietary real estate portfolio of DIC Asset AG. Here, we generate constant cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management and realising gains from sales.
In the Institutional Business segment (EUR 8.3 billion in assets under management), we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment vehicles that return attractive dividend yields.
DIC Asset AG has been SDAX-listed since June 2006.
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