DGAP-News DIC Assets
DIC Asset AG / Key word(s): Real Estate
04.09.2013 / 07:59
Frankfurt, 4 September 2013
DIC Asset AG: Continued Success in the Operative Business
– Major letting contract signed with Deutsche Bank AG for 5,300 sqm in Frankfurt
– Sales target for 2013 achieved ahead of time with additional sales worth 10 million euros
DIC Asset AG (WKN A1X3XX4 / ISIN DE000A1X3XX4) just reported another two successful dealings in its operative business in August 2013: On the one hand, a major letting contract over 5,300 sqm in Frankfurt was signed with Deutsche Bank AG while, on the other hand, three smaller properties were sold for approximately 10 million euros.
Major Letting Contract Signed with Deutsche Bank
The Frankfurt office of DIC Onsite just re-let the entire 5,300 sqm of office space in an office building in Frankfurt to Deutsche Bank AG after a few months of vacancy. DIC Asset AG holds a 20-percent interest in the property, which is one of the assets of the company’s co-investment segment. The long-term letting contract already commenced with the start of September, and is based on the current market rent. The tenant was advised by Jones Lang LaSalle.
Sales Target for 2013 Achieved Ahead of Time
Meanwhile, the company achieved a total sales volume of 83 million euros by selling another three smaller properties from its investment property portfolio (Commercial Portfolio) for approximately 10 million euros, thereby passing the year-end target of 80 million euros well ahead of time. Sales prices exceeded the most recently appraised fair market values by an average of more than five percent. The company strives to sell a maximum of 100 million euros by the end of the year, via single small-scale sales.
In total, the company has sold 10 properties year-to-date, of which 6 properties were taken out of the co-investment segment (with DIC Asset AG holding 20-percent stakes). Four properties were sold out of the Commercial Portfolio. As it is, DIC Asset AG should realise a minimum sales profit of approximately 3.5 million euros in the 2013 financial year.
For more information on DIC Asset AG, please visit the Company’s website www.dic-asset.de.
About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in Frankfurt/Main, is a real estate company with a dedicated investment focus on commercial real estate in Germany, pursuing a return-oriented investment policy. Real estate assets under management currently amount to approx. EUR 3.3 billion, comprising around 260 properties. The Company’s investment strategy is geared to the continued development of a high-quality, highly profitable and regionally diversified portfolio. The real estate portfolio is structured in two segments: the Commercial Portfolio (EUR 1.8 billion) comprises existing properties with long-term rental contracts generating attractive rental yields. The Co-Investments segment (pro-rata share of EUR 0.3 billion) comprises fund investments, joint-venture investments, and interests in development projects. DIC Asset AG provides a direct service to tenants through its own real estate management teams in six branch offices located at the regional hubs within the portfolio. This provides DIC Asset AG with an edge in terms of market presence and expertise, and builds the foundation for maintaining and increasing income and the value of its real estate assets. 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.
Thomas Pfaff Kommunikation
Investor Relations & Corporate Communications
Immo von Homeyer
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04.09.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
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|DIC Asset AG
|Eschersheimer Landstr. 223
|+49 69 9454858-86
|+49 69 9454858-99
|DE000A1X3XX4, DE000A1KQ1N3, DE000A1TNJ22
|A1X3XX, A1KQ1N, A1TNJ2
|Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
|End of News