DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Acquisition/Change of Personnel
10.01.2019 / 08:30
DIC Asset AG Starts into New Year with Acquisition for its Proprietary Portfolio – DIC Onsite senior management completed
Frankfurt am Main, 10 January 2019. DIC Asset AG, one of Germany’s leading listed property companies, acquired a fully occupied multi-tenant office building located in a technology park in Bremen via an asset deal from a private seller during the first days of the year, the asset being earmarked for its proprietary holdings. The transaction thus maintains the growth trajectory in 2019 that the company pursued for its Commercial Portfolio last year.
The office complex acquired by DIC Asset AG is mainly occupied by the University of Bremen, has a lettable area of around 9,400 sqm and 136 parking spots. The average lease term (WALT) is around 4.5 years. The total investment costs equalled EUR 14.7 million. The transfer of undertakings, rights and obligations for the property is scheduled to take place before the end of the first quarter of 2019.
While Bremen is a smaller office market judging by the size of its population, it is a very stable market. Being one of Germany’s city states, Bremen has successfully positioned itself as a service and industrial location in recent decades. The technology park located north-east of the inner city has attracted companies belonging in the information and communications technology sector as well as aerospace technology companies. These research-intensive industries benefit from the proximity of the university campus and university-related institutes and societies.
“The plan for 2019 is to keep expanding our proprietary holdings and to ensure the quality of our Commercial Portfolio in the long term. Assets of high value such as the property in Bremen contribute significantly to our rental income as one of the income streams of our hybrid business model,” said Sonja Wärntges, CEO of DIC Asset AG.
As previously announced at the end of last year, DIC Asset AG reshuffled the senior management of its subsidiary DIC Onsite GmbH. At the start of January, Joachim von Bredow and Marco Knopp assumed their duties. Joachim von Bredow is a highly experienced real estate specialist who has been active on behalf of DIC in various roles for a long period of time. Marco Knopp is also a proven expert in the real estate sector and has many years of experience in leading positions for institutional investors (KanAm and MEAG) as well as service providers (ReAssociates and Drees & Sommer).
For more details on DIC Asset AG, go to the internet at www.dic-asset.de.
About DIC Asset AG:
In its Commercial Portfolio division (EUR 1.6 billion in assets under management), DIC 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. The Funds division (EUR 1.9 billion in assets under management) generates its revenues by acting as issuer and manager of special real estate funds for institutional investors. Gathered in the business unit Other Investments (EUR 1.6 billion in assets under management) are strategic financial investments, the management of properties in which the company holds no equity stakes and equity investments in property developments. DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company’s shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies. (as of: 30/09/2018)
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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