DIC Asset sells Two Properties from Institutional Business for c. EUR 71 Million after Successful Active Real Estate Management

Press Release

DIC Asset sells Two Properties from Institutional Business for c. EUR 71 Million after Successful Active Real Estate Management

• “Kontor II” in Leipzig and “Schiller 27” were sold
• Volume of property sales rises to c. EUR 131 million in 2019

Frankfurt am Main, 10 October 2019. In the third quarter of 2019, DIC Asset AG (ISIN: DE000A1X3XX), one of Germany’s leading listed real estate companies, notarised further sales of around EUR 71 million from the special funds launched in the Institutional Business segment via its subsidiary GEG German Estate Group. As a result, the volume of property sales across all segments has increased to c. EUR 131 million.

“The sales are in line with the investment strategy of our special funds and were carried out within the planned period. Over the past few years, we have significantly increased the value of our properties through active asset management and attractive lettings. These values have now been realised through the sale of the properties.”, comments Johannes von Mutius, Chief Investment Officer of DIC Asset AG, on the sales.

From the portfolio of the DIC Office Balance I, the fully occupied property “Kontor II” in Leipzig was sold to KGAL Investment Management. The office complex, which was modernised in 2007, has a lettable area of around 16,800 sqm and excellent transport connections. The property lies in a central location in the Graphisches Viertel neighbourhood near the university hospital of Leipzig.

The fully occupied “Schiller 27” property on Schillerstrasse in Frankfurt am Main was sold out of the portfolio of the DIC Office Balance II fund to UBS Asset Management. The property of around 3,000 sqm has ODDO Seydler Bank AG and Landesbank Baden-Württemberg (LBBW) as its main tenants. The mixed-use property with both office and commercial spaces lies within walking distance of the Frankfurt Stock Exchange and is very easy to reach by both public and private transportation.

About DIC Asset AG:

With around 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 175 assets with a combined market value of c. EUR 7.1 billion under management (as of 30/06/2019). 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 1.8 billion in assets under management), 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 the Institutional Business division (EUR 5.3 billion in assets under management), represented at the market under the GEG German Estate Group brand, 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
ir@dic-asset.de