DIC Asset Aktiengesellschaft · Real estate company

DIC Asset
DIC Asset
DIC Asset
DIC Asset
DIC Asset

Press Release

DIC Asset AG acquires “Palais Kronberg” for its Proprietary Portfolio

(Frankfurt, 22.08.2018)

Frankfurt am Main, 22 August 2018. DIC Asset AG, one of Germany's leading listed property companies, just acquired "Palais Kronberg", an office property in Kronberg im Taunus, for its Commercial Portfolio (proprietary portfolio).

Due to the central and conveniently accessed location in the Rhine-Main metro region and in direct proximity to Frankfurt am Main, Kronberg im Taunus has developed into an established office location. The modern office complex has a lettable area of 12,800 sqm and is fully occupied by renowned companies. The weighted average lease term (WALT) is 5.7 years. Serving the local demand for office accommodation, the architecturally timeless building has three highly presentable entrances and can easily be divided into units of flexible dimensions. The property was sold by Corestate Capital Holding S.A. and the transaction was facilitated by BNP PARIBAS Real Estate Frankfurt.

"The acquisition of Palais Kronberg continues the growth strategy we pursue for our proprietary real estate stock and thereby improves the key ratios of the Commercial Portfolio. Kronberg is an economically up-and-coming town, and has evolved into a sought office location," said Sonja Wärntges, CEO of DIC Asset AG.


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Investor Relations & Corporate Communications

DIC Asset AG
Nina Wittkopf
Head of Investor Relations and Corporate Communications

Neue Mainzer Straße 20 • MainTor
60311 Frankfurt am Main

Tel. +49 69 9 45 48 58-14 62