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DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate
DIC Asset AG exceeds its 2020 transaction targets, starts new year dynamically with its first acquisition and has big plans for 2021, too
Frankfurt am Main, 20 January 2021. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, exceeded its planned transaction targets during the 2020 financial year with an excellent year-end finish. The acquisition volume across segments approximated EUR 1.8 billion, with the Commercial Portfolio accounting for EUR 213 million and the Institutional Business for EUR 1,625 million thereof. This means the target benchmark of EUR 200-300 million for the Commercial Portfolio has been achieved. For the Institutional Business the targets were exceeded, not least due to big-volume acquisitions like “Deka Office Hub” and “Lincoln Offices” which were signed in December. All targets on the dispositions side were topped as well, with sales worth EUR 242 million reported from the Commercial Portfolio and EUR 370 million from the Institutional Business.
All things considered, the company’s transactions in 2020 add up to c. EUR 2.5 billion, exceeding even the record year 2019 by a significant amount. This leads to increased assets under management as of 31 December 2020 of EUR 9.6 billion, thereof EUR 2.0 million for the proprietary portfolio and EUR 7.6 billion for the third-party business. In addition, the takeover of RLI Investors GmbH with assets under management of more than EUR 700 million (announced on 23 December 2020) was finished in January. This leads to an increase of pro-forma assets under management to more than EUR 10 billion as of the year-end. For 2021, DIC Asset AG plans transaction for all segments in a volume between EUR 1.5 billion and EUR 2.2 billion.
“Notwithstanding the adverse circumstances caused by the COVID-19 pandemic, we are looking back at another record year on the transactions market, during which our teams delivered a great performance both on the acquisitions and on the dispositions side. The assets under our management are growing not just through our continuous acquisitions for our proprietary portfolio, for institutional funds or within the framework of club deals, but have also jumped our target mark of EUR 10 billion in assets under management as a result of having taken over RLI Investors. Business in the 2021 financial year has directly continued in the same spirit. We are pleased to report the acquisition of the high-end logistics property in the ‘Erfurter Kreuz’ business estate in Arnstadt, the first deal from our transactions pipeline this year,” commented Sonja Wärntges, CEO of
More Details on Property Acquisitions
Close to the end of 2020, DIC Asset AG had the deed for the “Goldenes Haus” property in Frankfurt am Main notarised through its subsidiary, GEG. The property was purchased for total investment costs (TIC) of EUR 192 million within the framework of a club deal on behalf of institutional investors. The fully occupied landmark office property at Theodor-Heuss-Allee 80, a well-established address in the City West locality of downtown Frankfurt, has a lettable area of around 33,000 sqm and was comprehensively modernised between 2019 and 2020. Its two blue-chip tenants – one being Landwirtschaftliche Rentenbank, the other Finanz Informatik – ensure secure long-term cash flows.
In the Thuringian town of Arnstadt, DIC Asset AG had its first acquisition of 2021 notarised, as it acquired a property at the “Erfurter Kreuz” industrial and business estate. Seller of the second construction stage of the ILP international logistics park was OFB Projektentwicklung GmbH. The two contractual partners agreed not to disclose the selling price. The property is fully occupied on a long-term lease by the internationally operating logistics service provider DACHSER SE. Extending over an area of around 54,000 sqm, the site hosts two logistics warehouses with more than 21,000 sqm of warehouse and logistics space plus 700 sqm of office space. Also located on the grounds are 51 car parking spots and 24 HGV parking spots. The property is scheduled to be completed before the end of the first quarter of 2021.
About DIC Asset AG:
Taking an active asset management approach, DIC Asset AG employs its proprietary, integrated real estate management platform to raise capital appreciation potential company-wide and to boost its revenues.
In its Commercial Portfolio division (EUR 2.0 billion in assets under management), DIC Asset AG 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.
In its Institutional Business division (EUR 7.6 billion in assets under management), which operates under the name GEG German Estate Group, DIC Asset AG generates income by structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.
DIC Asset AG has been SDAX-listed since June 2006.
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|Company:||DIC Asset AG|
|Neue Mainzer Straße 20|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1492|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9|
|WKN:||A1X3XX, A12T64, A2GSCV, A2NBZG|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1161776|
|End of News||DGAP News Service|