13.04.2018
DIC Asset AG DE000A1X3XX4
DGAP-News: DIC Asset AG leased around 16,500 Square Metres at DIC Office Balance II Properties in Cologne and Hanover
DGAP-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset AG leased around 16,500 Square Metres at DIC Office Balance II
Properties in Cologne and Hanover
13.04.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
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Press Release
DIC Asset AG leased around 16,500 Square Metres at DIC Office Balance II
Properties in Cologne and Hanover
Frankfurt / Main, 13 April 2018. DIC Asset AG (WKN A1X3XX / ISIN
DE000A1X3XX4) just reported successfully renewed rentals of around 16,500
square metres at two properties in Cologne and Hanover, which are held in
the fund portfolio of the "DIC Office Balance II" institutional real estate
fund.
At an office property, which is located in the southern part of Cologne's
town centre, directly overlooking Barbarossaplatz with a total floor area of
around 13,400 square metres, signings for directly renewed rentals added up
to a floor area of around 6,500 square metres. The excellent negotiating
performance of the letting team of DIC raised the weighted average lease
term (WALT) of the property, which was built in 1972 and comprehensively
redeveloped in 2002, from 6.5 years to 9.3 years while also raising the rent
rate by no less than 18 percent. The occupancy rate remains unchanged at 100
percent. While anchor tenant Rewe occupies around 3,860 square metres on the
ground floor and in the basement, the upper floors of the scheme are used as
office accommodation.
At the second asset, the Office Center Plaza in Hanover, which lies in
direct proximity to the fair and has a gross lettable area of around 17,700
square metres, a subsequent lease for nearly 10,000 square metres was signed
with a state-level authority in the first quarter, raising the occupancy
rate from 95 to 100 percent. Following investments in conjunction with the
lease signing for an overall term of more than 20 years, the property will
be substantially upgraded. The signing raised the WALT from 1.9 years to
15.7 years. As with the other property, the rent at the Hanover asset now
exceeds the average in its local sub-market in Hanover.
"Our in-house property management platform once again demonstrated its
outstanding letting expertise and market know-how with these two fund
assets. The assets are now fully occupied on long-term leases, and the rent
hikes and upgrades of the properties will secure a continued long-term cash
flow for our investors," said Sonja Wärntges, CEO of DIC Asset AG.
For more details on DIC Asset AG, visit the company's homepage at
www.dic-asset.de.
Investor Relations & Corporate Communications:
DIC Asset AG
Nina Wittkopf
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20 - MainTor
D-60311 Frankfurt am Main
Phone +49 69 9454858-1462
Fax +49 69 9454858-9399
[1][email protected]
1. mailto:[email protected]
About DIC Asset AG:
DIC Asset AG is one of Germany's leading listed property companies, and
specialises in commercial real estate 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 around 180
assets with a combined market value of c. EUR 4.4 billion under management.
DIC uses a hybrid business model to manage its business divisions Commercial
Portfolio, Funds and Other Investments. Taking an active asset management
approach, DIC employs its proprietary, integrated real estate management
platform to raise capital appreciation potential in its business divisions
and to boost its revenues.
In its Commercial Portfolio division (EUR 1.6 billion in assets under
management), DIC 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. The Funds division (EUR
1.5 billion in assets under management) generates its revenues by acting as
issuer and manager of special real estate funds for institutional investors.
Gathered in the business unit Other Investments (EUR 1.3 billion in assets
under management) are joint venture investments, equity investments in
property developments, strategic financial investments, and the management
of properties in which the company holds no equity stakes.
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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13.04.2018 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 9454858-1462
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; Luxemburg
End of News DGAP News Service
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674231 13.04.2018
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