04.04.2017
DIC Asset AG DE000A1X3XX4
DGAP-News: DIC Asset sells real estate package worth EUR 143 million as it continues to streamline its proprietary portfolio
DGAP-News: DIC Asset AG / Key word(s): Disposal/Real Estate
DIC Asset sells real estate package worth EUR 143 million as it continues to
streamline its proprietary portfolio
04.04.2017 / 07:30
The issuer is solely responsible for the content of this announcement.
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Press Release
DIC Asset sells real estate package worth EUR 143 million as it continues to
streamline its proprietary portfolio
- Real estate portfolio includes 10 properties in A- and B-class cities
- Sales volume approximates EUR 143 million
- Sale is part of the ongoing portfolio optimisation
- Transaction brings revenues already up to two-thirds mark of 2017 year-end
target
Frankfurt/Main, 04 April 2017. Frankfurt-based company DIC Asset AG (German
securities code number WKN A1X3XX / ISIN DE000A1X3XX4) just announced the
sale of a commercial real estate portfolio worth around EUR 143 million,
consisting of ten properties that are located in German A and B-class
cities. The portfolio was bought by Cording Real Estate Group GmbH on behalf
of an institutional investor. The transfer of possession, rights and
obligations is expected for the second quarter of the year. BNP Paribas Real
Estate and CMS Hasche Sigle assisted DIC in the transaction in an advisory
role.
"The continuous optimisation and ongoing development of our Commercial
Portfolio represents one of our strategic core objectives. The purpose of
this forward-looking sale in a favourable market environment is to
streamline our portfolio in a sustainable manner. On top of that, we already
covered two thirds of the way toward the sales target we announced for 2017
with this transaction," said Aydin Karaduman, CEO of DIC Asset AG.
The assets sold, which add up to a gross lettable area of 100,000 square
metres, represent mainly single-tenant office properties in German A- and
B-class cities such as Hamburg, Cologne, Mannheim and Erlangen. The
annualised rental income generated by the sold properties approximates EUR
11 million.
Press Contact Investor Relations
DIC Asset AG DIC Asset AG
Andre Zahlten Peer Schlinkmann
Head of Corporate Head of Investor Relations
Communications
Neue Mainzer Strasse Neue Mainzer Strasse 20 - MainTor
20 - MainTor
D-60311 Frankfurt am D-60311 Frankfurt am Main
Main
Phone +49 69 Phone +49 69 9454858-1221
9454858-1435
Fax +49 69 Fax +49 69 9454858-9399
9454858-9199
[email protected] [1][email protected] 1.
mailto:[email protected]
About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in Frankfurt am
Main, is a real estate company with investment focus on commercial real
estate in Germany, pursuing a return-oriented investment policy. The
Company's investment strategy is geared to the continued development of a
high-quality, highly profitable, and regionally diversified portfolio. The
company has around 200 real estate assets under management with an aggregate
market value of EUR 3.5 billion. The real estate portfolio is structured in
two segments: the "Commercial Portfolio" (EUR 2.0 billion) comprises
existing properties with long-term rental contracts generating attractive
rental yields. The "Co-Investments" segment (EUR 1.5 billion) comprises fund
investments (pro-rata share of EUR 1.2 billion), joint-venture investments,
and interests in development projects. In-house real estate management teams
provide a direct service to tenants, working out of six different locations
in each of the portfolio focus regions. This kind of market presence and
expertise creates the basis for preserving and enhancing our earnings and
real estate values. 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.
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04.04.2017 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: DIC Asset AG
Neue Mainzer Straße 20 * MainTor
60311 Frankfurt am Main
Germany
Phone: +49 69 9454858-1221
Fax: +49 69 9454858-9399
E-mail: [email protected]
Internet: www.dic-asset.de
ISIN: DE000A1X3XX4, DE000A1TNJ22, DE000A12T648
WKN: A1X3XX, A1TNJ2, A12T64
Indices: S-DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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561507 04.04.2017
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