DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Real Estate/Acquisition
13.12.2018 / 08:30
DIC Asset AG Secures Construction Project near Kurfürstendamm in Berlin for its Commercial Portfolio
Frankfurt am Main, 13 December 2018. DIC Asset AG, one of Germany’s leading listed property companies, contractually secured a construction project at Heilbronner Str. 26 in Berlin via a forward deal with CASADA GmbH, a company active in the field of property developments and project control in Germany. The total investment volume adds up to c. 90 million euros.
The office development planned by CASADA GmbH is located in the Halensee sub-district of West Berlin, quite close to Kurfürstendamm. The economic growth of the German capital has outpaced the national average for years, and the city’s office market is highly attractive for occupiers and investors alike. The persistently strong demand for office accommodation reassured DIC in its intention to secure this project in such a superior location. The modern eight-storey new building with its high fit-out standard and state-of-the-art technical specifications will provide around 16,000 sqm of lettable area after its completion in early 2021. The plans call for flexible layout concepts and unit sizes, especially so as to accommodate the strong demand for connected floor plates.
“Once completed, this new construction project will optimally complement our proprietary portfolio in regard to the economically significant location of Berlin and the quality of the property itself. It will sustainably bolster the operating performance indicators and mix of our portfolio,” said Sonja Wärntges, CEO of DIC Asset AG.
Engel & Völkers Commercial Berlin acted in an intermediary role for the transaction.
For more details on CASADA GmbH, go to the internet at www.casada-gmbh.de.
For more details on DIC Asset AG, go to the internet at www.dic-asset.de.
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|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