DIC Asset AG leases around 6,700 sqm

Press Release

DIC Asset AG leases around 6,700 sqm

– Around 3,500 sqm let on new lease to public sector tenant in Bonn

– Lease renewal for around 1,500 sqm with Bremen University of Applied Sciences

– Subsequent lease for around 1,700 sqm signed in Grünwald district of Munich

Frankfurt am Main, 19 June 2020. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, has continued the positive trend in lettings that recent weeks brought for both business segments, as DIC Onsite GmbH, its operating subsidiary, reported a letting performance of about 6,700 sqm overall in three different properties.

“Our letting teams are outperforming even under the changed circumstances caused by the coronavirus crisis. We generally keep seeing strong interest in modern office spaces, both in properties held in our Commercial Portfolio and in those managed on behalf of our clients in the Institutional Business segment. These operational achievements once again underpin our two-pillar strategy,” said Sonja Wärntges, CEO of DIC Asset AG, as she commented the letting performance.

In Bonn, around 3,500 sqm were let to the Institute for Federal Real Estate (BImA) on a new 15-year lease in an office property belonging to a vehicle managed in the Institutional Business segment by the company’s own GEG German Real Estate Group. The new tenant is a federal agency. Once effective, the lease will achieve full occupancy for the property, parts of which are occupied by a second public-sector tenant, among others.

Meanwhile, a lease for around 1,500 sqm was renewed for another five years with the Bremen University of Applied Sciences, successfully tying this blue-chip tenant to the site. The property, owned by a real estate special AIF, is located on Hermann-Köhl-Strasse in the “Airport-Stadt” locality of Bremen.

In Munich’s Grünwald district, a unit of around 1,700 sqm plus 27 parking spots in a multi-tenant property held in the Commercial Portfolio were let to high quality property developer Capital H Immobilien GmbH in a seamless lease renewal for a subsequent term of around five years. As a result, this property, too, remains fully occupied.

About DIC Asset AG:

With more than 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has 186 assets with a combined market value of c. EUR 8.4 billion under management (as of 31/03/2020).

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 1.9 billion in assets under management, as of 31/03/2020), 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 6.5 billion in assets under management, as of 31/03/2020), which operates under the name GEG German Estate Group, DIC Asset AG generates income from 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.

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492
ir@dic-asset.de