DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Acquisition
24.06.2019 / 08:32
DIC Asset AG: GEG acquires the HELIO building in Augsburg
Frankfurt, 24 June 2019. DIC Asset AG has signed the contract to buy GEG German Estate Group AG on the 5th of June 2019. The transaction is expected to be closed end of June 2019. Now GEG has acquired the HELIO building, a combined shopping-, service- and office-center, which includes an underground car park as well. The building, which is situated directly next to the main railway station in Augsburg, was acquired in an off-market transaction. The seller, ASG, Jersey, has extensively refurbished, modernised and repositioned the building as an attractive setting over the past three years. The complex offers a rental space of around 36,000 sqm, and has a plot area of around 12,000 sqm.
“I am delighted that GEG is making another acquisition to expand its portfolio ahead of the upcoming closing of our transaction, which is fully in line with our future common growth strategy,” elaborated Sonja Wärntges, CEO of DIC.
Thanks to its ideal micro and macro location, the fully let HELIO is easily accessible – and also an attractive rental property due to its modern infrastructure. The well-diversified mix of renowned tenants such as Deutsche Bahn, REWE, dm and Check24 as well as average remaining lease terms of more than 10 years, ensure an attractive return.
Following the repositioning and complete refurbishment, the complex was reopened under the name HELIO in autumn 2018. The yellow illuminated façade provides a striking external appearance, making the new service and business centre a highly visible city landmark from all directions. The planned additional upgrading of Augsburg’s main railway station promises HELIO a further prosperous future.
The acquisition of the HELIO building is GEG’s first investment in Augsburg. As a result, assets under management rise to more than EUR3.6 billion.
About DIC Asset AG:
DIC Asset AG has acquired the GEG German Estate Group with a contract dated 5.6.2019. The transaction is expected to be completed by the end of June. During and after the closing of the transaction, DIC will focus its segment reporting on the two pillars DIC Commercial Portfolio and DIC Institutional Business. 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.
More detailed information about DIC Asset AG is available on www.dic-asset.de.
Media contact DIC Asset AG:
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|Company:||DIC Asset AG|
|Neue Mainzer Straße 20 * MainTor|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1462|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A1TNJ22, DE000A12T648|
|WKN:||A1X3XX, A1TNJ2, A12T64|
|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:||829011|
|End of News||DGAP News Service|