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EQS-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset AG lets another 4,140 sqm at Global Tower landmark building in Frankfurt, raising pre-let ratio to 76%
Frankfurt am Main, 8 February 2023. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, just reported the conclusion of further lease agreements for a combined office floor area of 4,140 sqm at Global Tower, a landmark property in Frankfurt. The leases were signed for lengthy terms of up to 15 years. This means that DIC let a total floor area of 10,000 sqm at the Global Town during the fourth quarter of 2022, which equals 46% of all new lettings in Frankfurt’s financial district. The lease signed for 4,700 sqm by the law firm of Mayer Brown LLP counts among the largest office lettings during the fourth quarter of 2022.
“We have a clear idea of the current challenges, and this was true long before they became a reality. Understanding them enables us to act with foresight and to respond adequately to shifts in the market. With Global Tower, a premium property, we put a product on the market that accommodates the present demand for smart, flexible prime office units in Frankfurt’s financial district and that offers occupiers a high degree of flexibility in their layout planning,” said Christian Fritzsche, the COO of DIC.
DIC repositioned Global Tower through active asset management and a comprehensive rebranding. Meanwhile, 76% of the floor area have been rented out.
Among the building’s tenants is ICF BANK AG, one of Germany’s leading securities trading banks. It will relocate its Frankfurt branch from Kaiserstrasse to Global Tower where it will occupy 1,500 sqm.
Carlsquare, a partner-managed investment bank, rented around 480 sqm of office space to set up another branch office in the rented space. Carlsquare advises companies that seek to structure their growth and to achieve value enhancement through strategic capital measures.
On top of that, DIC let 2,160 sqm to a consultancy firm.
Decisive criteria for their site selection on the part of the occupiers included the flexible layout concept, the central location and the innovative work environment that define Global Tower.
DIC was assisted during the lettings process by CBRE as lead estate agent and by Capstone Legal as legal advisers. Jones Lang LaSalle SE brokered the leases signed with ICF Bank and the consultancy firm while NAI apollo brokered the Carlsquare lease.
DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 359 assets with a combined market value of EUR 14.5 billion on site, always close to our properties and their occupiers.
The Commercial Portfolio segment comprises real estate held for our own account. 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 products that return attractive dividend yields.
DIC Asset AG has been SDAX-listed since June 2006.
For more details, go to www.dic-asset.de.
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D-60311 Frankfurt am Main
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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
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