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DIC acquires real estate portfolio of the City of Hamburg

 ​DGAP-News DIC Assets​

DIC Asset AG / MiscellaneousAnnouncement transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------The Frankfurt-based DIC Group (Deutsche Immobilien Chancen) has acquiredthe real estate portfolio from the City of Hamburg, known as Primo 3. Itconsists of 52 commercial properties with a total floor space of around176,000 sqm. The properties are located all over Hamburg. The totalinvestment volume is around 205 million euros. The listed DIC Asset AG hasa 20% share of the transaction. The transaction is still subject to theapproval of the Senate and the Parliament of the Free and Hanseatic City ofHamburg.80 percent of the portfolio consists of office properties. The remaining 20percent consists of other types of commercial usage, such as retail andstorage area. The vast majority of the properties are let long-term topublic authorities and the local authorities of the City of Hamburg. Inaddition, there are several properties that have a development potentialwhere project developments and refurbishments are concerned. In the comingyears, DIC will successively define the development potentials and willpresent plans for suitable construction projects. Prime properties in theportfolio include, for example, the centrally located buildings inDammtorstraße/Große Theaterstraße as well as the local courts and revenueoffices in the Wandsbek, Harburg and Bergedorf districts. In future, withits new asset and property management company, DIC will also maintain anoffice in Hamburg.Ulrich Höller, Board Chairman of DIC: 'By purchasing this attractiveportfolio, we are giving a clear commitment for one of the most prosperouseconomic locations in Germany. At the same time, by strengthening ourpresence in North Germany, we have achieved an important step towards ourplanned portfolio differentiation. With our extensive expertise in projectdevelopment and asset management, we will generate additional revenuepotential in the portfolio.'About DIC DIC (Deutsche Immobilien Chancen) was founded in Frankfurt in 1998 and,with its innovative investment philosophy and its focus on the Germanmarket, is one of the most prominent and successful firms in Germanyspecializing in commercial real estate transactions. Its businessactivities include portfolio and asset management, which are handled by itsprime standard listed company, DIC Asset AG, project development andopportunistic investments. The real estate assets managed by the DIC groupcurrently amount to over EUR 2 billions. Its shareholders are investmentcompanies, institutional investors (such as Morgan Stanley) and privateinvestors with a family background in industry. DIC · Investor RelationsStephan GramkowGrünhof · Eschersheimer Landstraße 22360320 Frankfurt am MainTel. (069) 27 40 33-10Fax (069) 27 40 33-70DGAP 28.11.2006 ---------------------------------------------------------------------- Language:     EnglishIssuer:       DIC Asset AG              Eschersheimer Landstr. 223              60320 Frankfurt DeutschlandPhone:        069 / 274033-0Fax:          069 / 274033-69E-mail:       info@dic-asset.deWWW:          www.dic-asset.deISIN:         DE0005098404WKN:          509840Indices:      S-DAXListed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in              Berlin-Bremen, München, Stuttgart, Düsseldorf End of News                                     DGAP News-Service ---------------------------------------------------------------------------