DIC Asset AG secures long-term rental income for logistics real estate fund

Press release

DIC Asset AG secures long-term rental income for logistics real estate fund

• Leases for 45,000 sqm extended with two existing tenants
• Approximately EUR 12 million in rental income secured for the long-term
• Portfolio assets of “RLI Logistics Fund Germany – I” remain fully occupied

Frankfurt am Main, 24 July 2023. DIC Asset AG (“DIC”) ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, signed long-term lease renewals for 45,000 sqm of logistics space with two existing tenants, thereby securing the continued flow of c. EUR 12 million in stable rental income for the institutional investors of its “RLI Logistics Fund Germany – I” until the end of the respective lease terms. The existing real estate portfolio of the logistics fund currently includes 18 logistics properties with a lettable area of about 491,000 sqm. Their weighted average lease term (WALT) equals 3.9 years. There is no vacancy anywhere.

“These long-term lease renewals give us a chance to highlight the outstanding logistics competency of our management platform and the sustainable value-added that we deliver to institutional investors via the high-quality logistics real estate portfolio of this fund. This is what we are talking about when we say ‘dynamic performance’ and it is something that our stakeholders can rely on,” commented Sonja Wärntges, CEO of DIC.

DIC renewed the lease for about 15,000 sqm at the logistics property in Achim near Bremen with the incumbent tenant for roughly another six years. The logistics property has a total useful area of about 42,000 sqm and is certified to the DGNB “Gold” standard. At the same time, DIC let the logistics centre in Wolfsburg, which has a total useful area of around 32,000 sqm, for another five years.

By committing themselves long-term to these logistics sites in Lower Saxony, both DIC and its lessees pledge themselves to sustainability both now and in the future. As added components, the new lease agreements include planned investments in ESG measures and the addition of green lease provisions.

About DIC Asset AG:

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 357 assets with a combined market value of EUR 14.1 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.

For more details, go to www.dic-asset.de/en.

IR/PR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Str. 20 • MainTor Primus

D-60311 Frankfurt am Main
T +49 69 9454858-1492
ir@dic-asset.de