28.06.2016
DIC Asset AG DE000A1X3XX4
DGAP-News: DIC Asset rents approximately 4,400 sqm to GOLD INN Group
DGAP-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset rents approximately 4,400 sqm to GOLD INN Group
28.06.2016 / 07:59
The issuer is solely responsible for the content of this announcement.
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Press Release
Frankfurt, 28 June 2016
DIC Asset rents approximately 4,400 sqm to
GOLD INN Group
- Building in Hamburg with office and retail premises, built in 1873, to
accommodate hotel
- Historic 10,900 sqm warehouse is now fully let
- Rental proves attractiveness of properties in the "DIC Office Balance
II" fund
DIC Asset AG has let some 4,400 sqm of a historic warehouse in Hamburg
under a long-term rental agreement. In spring 2017, Angleterre Hotel GmbH &
Co. KG (part of the GOLD INN Group) will open the four-star "GINN Hotel
Hamburg", covering four floors of the former warehouse building and
offering more than 132 rooms. The property, built in 1873 and remodeled as
well as extended in 1996, with a total lettable area of some 10,900 sqm, is
now fully let. The historic building, located on the banks of the Elbe
river and near to Hamburg's famous fish market, also accommodates office
and retail premises as well as a restaurant. The property belongs to the
"DIC Office Balance II" fund launched in July 2014, which is invested in
Germany's top seven cities and in the most prosperous metropolitan regions.
This fund focuses on existing properties with long-term rental contracts,
which are used primarily as office space and offer value potential. The
total fund volume now surpasses EUR 220 million.
DIC Asset AG acquired the listed building for its "DIC Office Balance II"
fund in January 2015 - at a vacancy ratio of roughly 40 percent. The
building is being partly renovated and upgraded by the construction of a
new lobby as part of the planned market repositioning. DIC Onsite, as asset
and property manager of DIC Asset AG, accompanied the project and led the
rental. "Within a short period of time, we developed a successful
positioning concept for the property and the empty office space. The great
location on the banks of the Elbe river and the historic charm of the
property are terrific starting points for the planned hotel business. We
are delighted to cooperate with Angleterre Hotel GmbH & Co. KG, an
experienced hotel operator and developer. This will transform one part of
the existing office space into a hotel to be run on a long-term horizon",
said Aydin Karaduman, Chairman of the Management Board (CEO) of DIC Asset
AG. The "GINN Hotel Hamburg" will be the GOLD INN Group's fourth hotel. At
present, the Group runs three hotels in Berlin.
About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in Frankfurt/
Main, is a real estate company with an 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. Real
estate assets under management comprise 216 properties with an aggregate
market value of EUR 3.2 billion. The real estate portfolio is structured in
two segments: the Commercial Portfolio (EUR 1.7 billion) comprises existing
properties with long-term rental contracts generating attractive rental
yields. The Co-Investments segment (EUR 1.4 billion) comprises fund
investments (accounting for a share of EUR 1.2 billion), joint-venture
investments, and interests in development projects. DIC Asset AG provides a
direct service to tenants through its own real estate management teams in
six offices located at the regional hubs within the portfolio. This
provides DIC Asset AG with an edge in terms of market presence and
expertise, and builds the foundation for maintaining and increasing income
- and the value of its real estate assets. 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.
Media contacts:
RUECKERCONSULT GmbH
Jan Geisler
Wallstrasse 16
10179 Berlin
Germany
Phone: +49 30 2844987-65
Fax: +49 30 2844987-99
[email protected]
Investor Relations
DIC Asset AG
Peer Schlinkmann
Neue Mainzer Strasse 20 - MainTor
60311 Frankfurt/Main
Germany
Phone:+49 69 9454858-1221
Fax +49 69 9454858-9399
[email protected]
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28.06.2016 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
End of News DGAP News Service
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474859 28.06.2016
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