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DIC Asset AG: tenancy agreement for 20,400 sqm extended with Galeria Kaufhof

 ​DGAP-News DIC Assets​

DIC Asset AG / Key word(s): Miscellaneous22.06.2011 / 07:31DIC Asset AG: tenancy agreement for 20,400 sqm extended with GaleriaKaufhofDIC Asset AG (WKN 509840 / ISIN DE0005098404) has successfully extended itsexisting tenancy agreement with Galeria Kaufhof GmbH for approximately20,400 sqm in Leverkusen (Wiesdorfer Platz 82). Galeria Kaufhof, whichenjoys a good location in Leverkusen's pedestrianised area, will remainthere for a further ten years.Securing this extension means that the property continues to be fully let.The average lease term in the property has now risen from around 1.5 yearsto currently around 10.5 years. The new tenancy agreement does not obligeDIC Asset AG to make additional investment in the property, thus securingthe rental income for DIC Asset AG for the long term.In addition to the two properties in Chemnitz and Bremen acquired towardsthe end of the first quarter, which are also leased long-term to GaleriaKaufhof, DIC Asset AG has further improved the quality of its structure inthe Retail tenant segment.The department store is located in Leverkusen's busiest pedestrianised areaand boasts good public transport links and car parks in the immediatevicinity. Leverkusen's city centre is currently being made even moreattractive to retailers, meaning that the property will continue to offeroutstanding potential for retail use in the future.DIC took over the three-storey property in 2007 as part of its acquisitionof the Odin portfolio. The building comprises some 13,000 sqm of retailspace and about 7,400 sqm of office and storage space. DIC Onsite, which isresponsible for operational real estate management, manages 63 propertiesthroughout North Rhine-Westphalia with a total commercial rental space ofsome 480,000 qm and a total value of around EUR 810 million.Further information about DIC Asset AG is available online About DIC Asset AG:Established in 2002, DIC Asset AG, with its registered office in Frankfurtam Main, is a real estate company with a dedicated investment focus oninvesting in commercial real estate in Germany, pursuing a return-orientedinvestment policy. The real estate portfolio amounts to approximately EUR3.2 billion with around 290 properties. The portfolio is divided into threesegments. The Core plus portfolio includes the proprietary portfolio heldon a long-term basis and offering stable, attractive rental yields. TheValue-Added portfolio contains real estate with promising performancepotential over the medium term; while the Co-Investments portfoliocomprises minority investments in other real estate segments. This includesopportunistic investments, development projects as well as the Fundsbusiness segment, where the company invests in first-class core properties.DIC Asset AG has been listed on the SDAX index since June 2006 and isrepresented in the international EPRA Index of the leading real estatecompanies in Europe.End of Corporate News---------------------------------------------------------------------22.06.2011 Dissemination of a Corporate News, transmitted by DGAP - acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at and    English                                                Company:     DIC Asset AG                                                        Eschersheimer Landstr. 223                                          60320 Frankfurt                                                     Deutschland                                            Phone:       +49 69 9454858-0                                       Fax:         +49 69 9454858-99                                      E-mail:                                      Internet:                                       ISIN:        DE0005098404                                           WKN:         509840                                                 Listed:      Regulierter Markt in Frankfurt (Prime Standard);                    Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,               München, Stuttgart                                       End of News    DGAP News-Service  ---------------------------------------------------------------------  129362 22.06.2011