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DIC Asset AG leases 7,400 sqm long-term to the City of Offenbach’s ‘MainArbeit’

 ​DGAP-News DIC Assets​

DIC Asset AG / Key word(s): Miscellaneous16.06.2011 / 11:59DIC Asset AG leases 7,400 sqm long-term to the City of Offenbach's'MainArbeit'DIC Asset AG (WKN 509840/ ISIN DE0005098404) and the job centre'MainArbeit', a subsidiary of the City of Offenbach, have now signed alease for around 7,400 sqm in total with a term of 17 years as part of its'Trio' property. This is the most important lease signed in Offenbach since2007.Starting in autumn 2011, DIC is to undertake extensive renovation work onthe striking curved building situated on Offenbach's central axis onBerliner Straße to bring its infrastructure up to date. MainArbeit is torent the building's full 5,200 sqm of floor space from the end of 2011. Afurther 2,200 sqm are to be created by early 2013 in a new building to beconstructed directly adjacent to the existing one. This additional spacewill also be handed over for use. The architects msm Architekten based inFrankfurt and Cologne are responsible for planning the development.In the long term, new building sections are to be constructed on the restof the site between Berliner Straße, Luisenstraße and Bahnhofstraße,allowing more vibrant use to be made of the district as a whole. Theexisting structures are scheduled for demolition in late 2012. Byrenovating an existing building and rebuilding as well as demolishing otherstructures, with the 'Trio' property DIC and the City of Offenbach arecreating added value in terms of urban development for this gateway area tothe city on Berliner Straße.Horst Schneider, Mayor of the City of Offenbach: 'We are pleased to be ableto give the staff at MainArbeit modern, attractive offices that they willshortly be able to move into. At the same time, the value of what is a keyarea in urban planning terms is being increased.'Letting is being arranged via DIC Onsite, which is responsible foroperational property management. The Frankfurt branch of DIC Onsitecurrently manages about 60 properties covering total commercial space ofapprox. 420.000 sqm in the Rhine-Main area. DIC acquired the site and itsbuildings from the insurers AXA Group and DBV Winterthur in 2007 as part ofa EUR 320 million portfolio transaction covering a total area of 182,000sqm.Further information about DIC Asset AG can be found on the Internet DIC Asset AG:Established in 2002, DIC Asset AG, with registered offices inFrankfurt/Main, is a real estate company with a dedicated investment focuson commercial real estate in Germany, pursuing a return-oriented investmentpolicy. Real estate assets under management currently amount to approx. EUR3.2 billion, comprising around 290 properties. The portfolio is dividedinto three segments: the 'Core plus' portfolio includes the proprietaryportfolio held on a long-term basis and offering stable, attractive rentalyields. The 'Value-added' portfolio contains real estate with promisingperformance potential over the medium term. The 'Co-investments' segmentportfolio comprises minority stakes in supplementary real estate sectors,including opportunistic investments, project development as well as theFunds business area, where we invest in first-class core real estate. DICAsset AG has been included in the SDAX(R) segment of the Frankfurt StockExchange since June 2006. The Company's shares are also included in theEPRA index, which tracks the performance of the most important Europeanreal estate companies.End of Corporate News---------------------------------------------------------------------16.06.2011 Dissemination of a Corporate News, transmitted by DGAP - acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at and    English                                                Company:     DIC Asset AG                                                        Eschersheimer Landstr. 223                                          60320 Frankfurt                                                     Deutschland                                            Phone:       +49 69 9454858-0                                       Fax:         +49 69 9454858-99                                      E-mail:                                      Internet:                                       ISIN:        DE0005098404                                           WKN:         509840                                                 Listed:      Regulierter Markt in Frankfurt (Prime Standard);                    Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,               München, Stuttgart                                       End of News    DGAP News-Service  ---------------------------------------------------------------------  128770 16.06.2011