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DIC Asset Opens its Seventh Location in Cologne

DGAP-News: DIC Asset AG / Key word(s): Miscellaneous
30.01.2020 / 08:00
The issuer is solely responsible for the content of this announcement.

Press Release

DIC Asset Opens its Seventh Location in Cologne

  • Expanding footprint in leading real estate locations
  • New branch headed by Johanna Friedek
  • Current Assets under management in Cologne of approximately EUR 1.0 billion

Frankfurt am Main, 30 January 2020. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany’s leading listed property companies, opened the seventh location for its operating subsidiary, DIC Onsite GmbH, in Cologne at the turn of the year. The move is part of the ongoing effort of DIC Asset AG to expand its footprint in Germany’s main real estate markets, reflecting the strong growth in assets under management both in its own portfolio and in the Institutional business.

The new branch has been headed by experienced real estate specialist Johanna Friedek since 01 January 2020. Friedek has a master’s degree in economic geography from the RWTH Aachen University and a degree in real estate economics from the International Real Estate Business School (IREBS) at the University of Regensburg. Previously, she served eight years in various positions for DIC Onsite.

Joachim von Bredow, Managing Director of DIC Onsite, said: “By expanding our presence, we are strengthening our network in the local real estate markets in Germany and are even closer to the properties we manage in the Cologne region. In Johanna Friedek, we have found a proven expert among our own ranks, and we wish her every success in the management of our new branch office.”

The new branch manages some of the properties previously handled by the Düsseldorf office, and had a total of c. EUR 1.0 billion in assets under its management. Among these assets is the Stadthaus building in Cologne, which was acquired in a club deal on behalf of a group of institutional investors during the fourth quarter of 2019. Possession of the landmark property was transferred in mid-January 2020.

About DIC Asset AG:

With more than 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has 180 assets with a combined market value of c. EUR 7.6 billion under management (as of 31/12/2019). Taking an active asset management approach, DIC Asset AG employs its proprietary, integrated real estate management platform to raise capital appreciation potential company-wide and to boost its revenues.

In its Commercial Portfolio division (EUR 1.9 billion in assets under management, as of 31/12/2019), DIC Asset AG 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.

In its Institutional Business division (EUR 5.7 billion in assets under management, as of 31/12/2019), which operates under the name GEG German Estate Group, DIC Asset AG generates income from structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.

DIC Asset AG has been SDAX-listed since June 2006.

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492

30.01.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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