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DGAP-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset AG: Lease with C&A for 69,000 sqm of logistics space extended until 2025
– DIC secures continuous cash flow for its investors
– Fashion retailer C&A remains committed to the site in Mönchengladbach
– Lease renewal ensures that logistics centre remains fully occupied
Frankfurt am Main, 24 September 2021. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, extends its lease agreement with C&A for 69,000 sqm of logistics space in Mönchengladbach until 2025. The property hosts the fashion retailer’s largest and most important logistics centre in Europe. The company is the property’s sole occupier.
“We are very pleased to continue our successful collaboration with this strategic tenant. By renewing the lease agreement and by securing the ongoing full occupancy of the logistics centre, we keep the cash flow sustainably and reliably stable for our investors,” said Sonja Wärntges, CEO of DIC Asset AG.
The site is of paramount importance to C&A. Among the company’s six distribution centres, it is the main goods handling facility for clothes and accounts for about one third of its entire goods turnover in Germany. Around 104 clothing stores are restocked from the Mönchengladbach facility. “We renewed the lease not just for strategic reasons, but also because we have come to appreciate DIC as a logistics expert by our side who collaborated with us to find purpose-driven solutions for all stakeholders during the pandemic. We continue to believe that they will keep supporting us with creative and constructive ideas going forward,” added Markus Wagener, Head of European Logistics at C&A.
The logistics centre is located at Dieselstrasse 15 in Mönchengladbach, and is held in the portfolio of the open-ended special AIF “RLI Logistic Fund – Germany II.”
About DIC Asset AG:
The Commercial Portfolio segment represents the proprietary real estate portfolio of DIC Asset AG. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.
In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment vehicles that return attractive dividend yields.
DIC Asset AG has been SDAX-listed since June 2006.
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|DIC Asset AG
|Neue Mainzer Straße 20
|60311 Frankfurt am Main
|+49 69 9454858-1492
|+49 69 9454858-9399
|DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9
|A1X3XX, A12T64, A2GSCV, A2NBZG
|Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
|EQS News ID:
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|DGAP News Service