18.01.2017
DIC Asset AG DE000A1X3XX4
DGAP-News: DIC Asset AG exceeds its 2016 acquisition target
DGAP-News: DIC Asset AG / Key word(s): Real Estate/Acquisition
DIC Asset AG exceeds its 2016 acquisition target
18.01.2017 / 07:59
The issuer is solely responsible for the content of this announcement.
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DIC Asset AG exceeds its 2016 acquisition target
- Acquisitions worth over EUR 520 million transacted in 2016
- Acquisition volume expanded as planned, topping the forecast of EUR 500
million
- Another four acquisitions in Berlin, Bonn, Düsseldorf and Munich just
before the end of 2016 add up to a total of c. EUR 195 million
- Acquired assets earmarked for existing and planned institutional real
estate fund in the office and retail segments
Frankfurt/Main, 18 January 2017. DIC Asset AG (WKN A1X3XX / ISIN
DE000A1X3XX4) signed another four sale and purchase agreements before year-
end 2016, bringing its total acquisition volume up to EUR 520 million. It
thereby exceeded its own mid-year forecast of EUR 500 million, up from the
previously predicted amount of EUR 400 to 450 million. With the
acquisitions transacted on behalf of the fund portfolio, DIC Asset AG
continues its dedicated growth trajectory in the investment fund sector.
"With these final acquisitions for 2016, we not only met but topped our
acquisitions target despite our own upward revision midway through the
year. Despite the challenging market environment, we continued to expand
the portfolio of our steadily growing fund business line. In 2017, we
intend to keep intensifying this ongoing development in the fund business
that we kicked off in 2016", said Aydin Karaduman, CEO of DIC Asset AG.
The final deals signed in 2016 involved one retail asset in Berlin and
three office properties in Bonn, Düsseldorf and Munich, respectively. The
property bought in the centre of Berlin's Hohenschönhausen-Lichtenberg
district is the "Storchenhof" retail asset. It combines a hybrid centre
that consists of retail and commercial floor area and was built in 1995
with a superstore raised in 2011. The lettable area adds up to 13,900
square metres overall and 350 parking spots. Sole tenant of the superstore
is food multiple Kaufland, while anchor tenants at the hybrid centre
include Aldi (discount food market), Rossmann (drugstore), Kaufland
Getränke (drinks cash & carry) and the Dutch non-food discount retailer
Action. The upper floors are occupied mainly by doctors' offices. The
occupancy rate is close to 100 percent at the moment. Being located next to
the local high-street, the shopping centre is conveniently accessed both by
public transportation and by car. Legal counsel to DIC was provided by the
law firm GSK Stockmann + Kollegen. The deal was brokered by MAC Consult
GmbH.
The acquisition in Bonn involved an office property with a gross lettable
area of around 16,700 square metres and 269 parking spots. The asset was
sold by an international investor. Main tenants of the property, which lies
in the city's Federal District, are the Institute for Federal Real Estate
(BImA), the German Society for International Cooperation (GIZ), and
Deutsche Post Immobilien, the real estate arm of Deutsche Post. Raised in
2005, the property currently shows an occupancy rate of 94 percent. GSK
Stockmann + Kollegen again provided legal counsel to DIC. Cushman &
Wakefield LLP acted as adviser on the seller side.
The property "Halle 30" in Düsseldorf's Derendorf district was taken over
from Gerry Weber International AG. Main tenants of the showroom centre,
which is located close to downtown, include Marc Cain, Basler Fashion GmbH,
and Rabe Moden GmbH, among others. Companies use the buildings units as
ordering centres. The lettable area of the scheme, which was completed in
2011, adds up to roughly 13,800 square metres, and is complemented by 260
parking spots. The current occupancy rate is close to 94 percent. GSK
Stockmann + Kollegen acted once more as legal advisers. The selling process
was facilitated by BNP Paribas Real Estate in an advisory role.
The fourth asset bought was an office property in the Obersendling district
in Munich. Seller was Allianz Real Estate Germany GmbH. Main tenants of
this property, which was built in 1994 and provides around 17,300 square
metres of lettable area and 205 parking spots, are the companies FWU AG and
Bayerische Eisenbahngesellschaft. The current occupancy rate is close to 90
percent. Due to its proximity to the Mittlerer Ring orbital and its easy
access to the underground and rapid transit systems, the property comes
with optimal transport links. DIC received legal counsel by the law firm
LPA Rechtsanwälte Steuerberater, while the seller side was advised by CMS
Stuttgart. The estate agency facilitating the transaction was Cushman &
Wakefield.
"All four of properties impressed us with sound fundamentals and their
excellent micro-environments. In a very competitive market environment, we
were able to acquire four very good assets at the end of the year," says
Thomas Gerstmann, Head of Investment at DIC Asset AG. Ralph Andermann,
managing director of the fund business says: "The acquisitions are an
excellent addition for our existing fund portfolio and a solid basis for
our upcoming new office and retail funds."
In addition to the already launched office funds DIC Office Balance I, II
and III and the DIC HighStreet Balance fund, which concentrates on inner-
city retail real estate, DIC is planning to set up a fourth office property
fund as well as another retail property fund. Supplementing the office
property focus, the retail segment thus forms a second investment mainstay
that DIC intends to strengthen going forward.
Press Contact
DIC Asset AG
Andre Zahlten
Head of Corporate Communications
Neue Mainzer Strasse 20 - MainTor
D-60311 Frankfurt am Main
Phone +49 69 9454858-1435
Fax +49 69 9454858-9199
[email protected]
Investor Relations
DIC Asset AG
Peer Schlinkmann
Head of Investor Relations
Neue Mainzer Strasse 20 - MainTor
D-60311 Frankfurt am Main
Phone +49 69 9454858-1221
Fax +49 69 9454858-9399
[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 210 real estate assets under management 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 1.5 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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18.01.2017 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.
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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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537259 18.01.2017
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