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DIC Asset AG acquires ‘Palais Kronberg’ for its Proprietary Portfolio

DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate

22.08.2018 / 09:45
The issuer is solely responsible for the content of this announcement.

Press Release

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

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.

For more details on DIC Asset AG, go to the internet at


Nina Wittkopf
Head of Investor Relations & Corporate Communications
Phone +49 69 9454858-1462
Mobile +49 151 2990-5223



About DIC Asset AG:
DIC Asset AG is one of Germany’s leading listed property companies, and specialises in commercial real estate. With around 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has around 185 assets with a combined market value of c. EUR 5.0 billion under management. DIC uses a hybrid business model to manage its business divisions Commercial Portfolio, Funds and Other Investments. Taking an active asset management approach, DIC employs its proprietary, integrated real estate management platform to raise capital appreciation potential in its business divisions and to boost its revenues.

In its Commercial Portfolio division (EUR 1.6 billion in assets under management), DIC acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio. The Funds division (EUR 1.8 billion in assets under management) generates its revenues by acting as issuer and manager of special real estate funds for institutional investors. Gathered in the business unit Other Investments (EUR 1.6 billion in assets under management) are strategic financial investments, the management of properties in which the company holds no equity stakes, equity investments in property developments and joint venture investments. DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company’s shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies.

22.08.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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