Javascript is disabled or not supported. Please enable JavaScript to display the website correctly.
If there are any problems, please contact us!

DIC Asset AG sells portfolio of residential properties – total volume of placements in the first half of this year increased

DIC Asset AG / MiscellaneousAnnouncement, transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------Frankfurt-based DIC Asset AG has just sold a portfolio of 353 residentialproperty units and a total area measuring 19,500 sqm to Deutsche Wohnen AGin Mainz, at a price of EUR 19.5 million. The residential properties arelocated in the cities of Mainz, Wiesbaden and Oberursel; almost 94% of themare currently let.With this transaction, DIC Asset AG is divesting its portfolio ofresidential property, which had been acquired as a result of a number ofportfolio transactions in recent years but which does not form part of thecompany's clearly defined core business. It means that DIC Asset AG hasfurther reduced the residential portion of its portfolio, which now standsat 2.7%. The company's business strategy is focused exclusively oncommercial property in Germany.Together with additional recent sales of several individual properties (inFrankfurt, Hamburg and Ludwigsburg) worth approximately EUR 15 million, DICAsset AG placed a number of properties, valued at EUR 167 million in total,in the first half of this year. These transactions, underlining thecompany's active portfolio management strategy, were based on individualportfolio and subportfolio sales.About DIC Asset AGEstablished 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. DIC Asset AG’s real estate portfolio currently includes around 1.1million sqm of floor space, spread over 337 properties. The portfolio isdivided into three segments: the Core 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; while the OpportunisticCo-Investments portfolio is comprised of real estate investments that havea more pronounced risk/return profile, which will be placed with thirdparties following a repositioning under an individual business plan. Realestate assets under management currently amount to approx. EUR 3 billion.DIC Asset AG has now been listed on the SDAX index for one year.Investor Relations:Stephan GramkowGrünhof - Eschersheimer Landstraße 22360320 Frankfurt am MainFon. +49-69-9454858-39Fax +49-6969-9454858-99ir@dic-asset.de DGAP 02.07.2007 ---------------------------------------------------------------------- Language:     EnglishIssuer:       DIC Asset AG              Eschersheimer Landstr. 223              60320 Frankfurt DeutschlandPhone:        +49 69 9454858-0Fax:          +49 69 9454858-99E-mail:       info@dic-asset.deInternet:     www.dic-asset.deISIN:         DE0005098404WKN:          509840Indices:      S-DAXListed:       Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in              Berlin-Bremen, München, Stuttgart, Düsseldorf End of News                                     DGAP News-Service ---------------------------------------------------------------------------