DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Funds/Real Estate
04.07.2018 / 08:29
DIC Asset AG initiates its Seventh Open-ended Special AIF
– DIC Office Balance V launched with start-up portfolio in Munich and Hamburg
– Target investment volume of EUR 350 to 400 million
Frankfurt am Main, 04 July 2018. DIC Asset AG, one of Germany’s leading listed property companies, just launched its seventh open-ended special alternative investment fund (AIF). Named DIC Office Balance V, the new fund will invest in commercial real estate in German metro regions, and will thus continue the Office Balance series of DIC Asset AG. It is intended for institutional investors. The target investment volume is EUR 350 to 400 million. The start-up portfolio in a total volume of c. EUR 130 million consists of two buildings in Munich and Hamburg, respectively, and was added to the fund in late June 2018, using a corresponding amount of equity capital. The annual target return is planned to amount to 4.0 to 4.5 percent annually.
“Demand for office real estate remains very high in cities like Hamburg and Munich. The high-end start-up portfolio of two assets, which we secured for the fund as early as 2017, permits us to ensure stable rental demand and continuous rent revenues for our investors, and we are convinced that DIC Office Balance V will generate permanently sound distribution yields,” said Sonja Wärntges, Chief Executive Officer of DIC Asset AG.
DIC Asset AG is one of the major initiators of institutional property funds in Germany with its own integrated real estate management platform that operates throughout Germany from six central locations. Due to the great performance of the existing funds,
For more details on DIC Asset AG, go to the internet at www.dic-asset.de.
About DIC Asset AG:
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 1.6 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 joint venture investments, equity investments in property developments, strategic financial investments, and the management of properties in which the company holds no equity stakes. 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|DIC Asset AG
|Neue Mainzer Straße 20 * MainTor
|60311 Frankfurt am Main
|+49 69 9454858-1462
|+49 69 9454858-9399
|DE000A1X3XX4, DE000A1TNJ22, DE000A12T648
|A1X3XX, A1TNJ2, A12T64
|Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange, ,
|End of News
|DGAP News Service