Javascript is disabled or not supported. Please enable JavaScript to display the website correctly.
If there are any problems, please contact us!

DIC Asset AG acquires real estate portfolio for EUR 155 million

DIC Asset AG / MiscellaneousAnnouncement, transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------Frankfurt-based DIC Asset AG has acquired another high-quality portfoliowith a total area of around 50,000 sqm in the context of two off-markettransactions. The total investment volume, including transaction costs, isEUR 155 million. Overall, the area is divided into eight real estatecomplexes, including the 'Rheinwerk' in Bonn, two properties in Cologne'sRheinau harbor and AOK's headquarters in Neubrandenburg. All properties arenew buildings or as new.53% of the properties are for office use, and 30% are retail premises. Mostof them are leased to prime tenants such as Edeka, C&A, AOK, ver.di andadidas. The rental area is almost fully leased, and has an average leaseperiod of over 10 years. The sellers are Development Partner AG inDüsseldorf, advised by the brokers Kemper’s, and a private investor, whowas advised by Brockhoff & Partner.The properties purchased for the core segment of DIC Asset AG will remainin the portfolio in the medium to long term. In the context of optimizedmanagement, they are making a significant contribution to securing andincreasing the cash flow. The rental yield is 5.9% (based on the totalinvestment volume).Since the beginning of 2006, DIC Asset AG has acquired real estate with atotal value of EUR 2.5 billion, with off-market transactions accounting foraround 40% of this figure.For more information on DIC Asset AG, please visit www.dic-asset.de. About DIC Asset AGEstablished in 2002, DIC Asset AG, with registered offices inFrankfurt/Main, is a real estate company with a dedicated investment focuson commercial real estate in Germany, pursuing a return-oriented investmentpolicy. DIC Asset AG’s real estate portfolio currently includes around 1.1million sqm of floor space, spread over 332 properties. The portfolio isdivided into three segments: the Core portfolio includes the proprietaryportfolio held on a long-term basis and offering stable, attractive rentalyields; the Value-Added portfolio contains real estate with promisingperformance potential over the medium term; while the OpportunisticCo-Investments portfolio is comprised of real estate investments that havea more pronounced risk/return profile, which will be placed with thirdparties following a repositioning under an individual business plan. Realestate assets under management currently amount to approx. EUR 3 billion.DIC Asset AG has now been listed on the SDAX index for one year.Investor Relations:Stephan GramkowGrünhof - Eschersheimer Landstraße 22360320 Frankfurt am MainFon. +49-69-9454858-39Fax +49-69-9454858-99ir@dic-asset.de DGAP 18.07.2007 ---------------------------------------------------------------------- Language:     EnglishIssuer:       DIC Asset AG              Eschersheimer Landstr. 223              60320 Frankfurt DeutschlandPhone:        +49 69 9454858-0Fax:          +49 69 9454858-99E-mail:       info@dic-asset.deInternet:     www.dic-asset.deISIN:         DE0005098404WKN:          509840Indices:      S-DAXListed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in              Berlin, München, Stuttgart, Düsseldorf End of News                                     DGAP News-Service ---------------------------------------------------------------------------