22.08.2018
DIC Asset AG DE000A1X3XX4
DGAP-News: DIC Asset AG acquires 'Palais Kronberg' for its Proprietary Portfolio
DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate
DIC Asset AG acquires 'Palais Kronberg' for its Proprietary Portfolio
22.08.2018 / 09:45
The issuer is solely responsible for the content of this announcement.
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Press Release
DIC Asset AG acquires "Palais Kronberg" for its Proprietary Portfolio
Frankfurt am Main, 22 August 2018. DIC Asset AG, one of Germany's leading
listed property companies, just acquired "Palais Kronberg", an office
property in Kronberg im Taunus, for its Commercial Portfolio (proprietary
portfolio).
Due to the central and conveniently accessed location in the Rhine-Main
metro region and in direct proximity to Frankfurt am Main, Kronberg im
Taunus has developed into an established office location. The modern office
complex has a lettable area of 12,800 sqm and is fully occupied by renowned
companies. The weighted average lease term (WALT) is 5.7 years. Serving the
local demand for office accommodation, the architecturally timeless building
has three highly presentable entrances and can easily be divided into units
of flexible dimensions. The property was sold by Corestate Capital Holding
S.A. and the transaction was facilitated by BNP PARIBAS Real Estate
Frankfurt.
"The acquisition of Palais Kronberg continues the growth strategy we pursue
for our proprietary real estate stock and thereby improves the key ratios of
the Commercial Portfolio. Kronberg is an economically up-and-coming town,
and has evolved into a sought office location," said Sonja Wärntges, CEO of
DIC Asset AG.
For more details on DIC Asset AG, go to the internet at www.dic-asset.de.
Contact:
Nina Wittkopf
Head of Investor Relations & Corporate Communications
Phone +49 69 9454858-1462
Mobile +49 151 2990-5223
[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 185
assets with a combined market value of c. EUR 5.0 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
1.8 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 1.6 billion in assets
under management) are strategic financial investments, the management of
properties in which the company holds no equity stakes, equity investments
in property developments and joint venture investments. 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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22.08.2018 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; Luxembourg Stock
Exchange
End of News DGAP News Service
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