DIC ASSET AG

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PRESS RELEASE: DIC Asset AG Continues Year-End Rally on the Transaction Market - Three Acquisitions in a Total Amount of EUR 179 Million Signed on Behalf of Special Funds

12/18/2020 | 01:31am
 
 DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate 
DIC Asset AG Continues Year-End Rally on the Transaction Market - Three 
Acquisitions in a Total Amount of EUR 179 Million Signed on Behalf of 
Special Funds 
 
2020-12-18 / 07:30 
The issuer is solely responsible for the content of this announcement. 
 
Press Release 
 
*DIC Asset AG Continues Year-End Rally on the Transaction Market - **Three 
Acquisitions in a Total Amount of EUR 179 Million Signed on Behalf of 
Special Funds* 
 
· *"Magazinhof" in Kassel bought for EUR 65 million (TIC)* 
 
· *"Wacker Hof" property in Düsseldorf for EUR 75 million (TIC) after 
repositioning by DIC* 
 
· *"Galilei" in Mannheim for EUR 39 million (TIC)* 
 
_Frankfurt am Main, 18 December 2020. _DIC Asset AG (ISIN: DE000A1X3XX4), 
one of Germany's leading listed property companies, has continued its 
proactive buying activities in December, once again demonstrating its 
transaction know-how on its proprietary nationwide real estate platform. 
Over the past few days, another three transactions were notarised on behalf 
of existing special funds managed by subsidiary GEG as part of the group's 
third-party business for institutional investors. The total investment costs 
(TIC) for these properties added up to c. EUR 179 million. 
 
"DIC Asset AG is known for its high degree of reliability, swiftness and 
creativity. These characteristics were once again in evidence during our 
2020 year-end rally and the brisk momentum that drives our planning of 
additional transactions before the end of the year. This way, we are laying 
the ground for the year 2021 early on, while the dynamic approach also 
brings us closer to our short-term goal of having EUR 10 billion in assets 
under management," commented Sonja Wärntges, the CEO of DIC Asset AG. 
 
*More Details on the Acquisitions* 
 
For an infrastructure real estate special fund, the "Magazinhof" asset at 
Leuschnerstr. 79 in Kassel was acquired, a city campus with 15,000 sqm 
lettable area in a conveniently accessible city location that is occupied by 
three blue-chip public-sector tenants on long-term leases, including the 
State Construction and Real Estate Agency of Hesse ("Landesbetrieb Bau und 
Immobilien Hessen"). The weighted average lease term (WALT) is around 15 
years. The TIC of the infrastructure property near the "Kassel-Wilhelmshöhe" 
high-speed railway station approximated EUR 65 million. 
 
For the same special funds, an infrastructure property in Düsseldorf was 
also acquired. It was only this year that DIC Asset AG conducted the 
repositioning of "Wacker Hof" at Erkrather Str. 377-389. With the 
modernisation work completed during the third quarter of 2020, and with the 
main tenant City of Düsseldorf having moved in, the property of around 
23,100 sqm of lettable area, formerly occupied by a single tenant, was 
successfully transformed for multiple tenant occupancy. The City as new 
anchor tenant rented a total of around 13,000 sqm for its recently created 
Office for Migration and Integration and for its Health Services Office. The 
weighted average lease term (WALT) is around 7 years. The TIC added up to 
EUR 75 million. 
 
The "Galilei" property at Reichskanzler-Müller-Str. 21, 23 and 25 in 
Mannheim was purchased for a manage-to-core special fund for EUR 39 million 
(TIC). DIC Asset AG was legally advised by LPA-GVV in Munich while the 
seller received legal advice from Clifford Chance in Frankfurt; technical 
consultancy was provided by CBRE-Preuss-Valteq. The multi-tenant property, 
which extends over 9,300 sqm of lettable area, is largely let to 
agrochemicals manufacturer EuroChem Agro and to the internationally active 
auditing firm Deloitte. 
 
*About DIC Asset AG:* 
 
With more than 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 189 assets with a combined market value of c. 
EUR 8.7 billion under management (as of 30 September 2020). 
 
Taking an active asset management approach, DIC Asset AG employs its 
proprietary, integrated real estate management platform to raise capital 
appreciation potential company-wide and to boost its revenues. 
 
In its Commercial Portfolio division (EUR 2.1 billion in assets under 
management), DIC Asset AG 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. 
 
In its Institutional Business division (EUR 6.6 billion in assets under 
management), which operates under the name GEG German Estate Group, DIC 
Asset AG generates income by structuring and managing investment vehicles 
with attractive dividend yields for national and international institutional 
investors. 
 
DIC Asset AG has been SDAX-listed since June 2006. 
 
*IR Contact DIC Asset AG:* 
Peer Schlinkmann 
Head of Investor Relations & Corporate Communications 
Neue Mainzer Strasse 20 
D-60311 Frankfurt am Main 
Phone +49 69 9454858-1492 
ir@dic-asset.de 
 
2020-12-18 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 
Language:    English 
Company:     DIC Asset AG 
             Neue Mainzer Straße 20 
             60311 Frankfurt am Main 
             Germany 
Phone:       +49 69 9454858-1492 
Fax:         +49 69 9454858-9399 
E-mail:      ir@dic-asset.de 
Internet:    www.dic-asset.de 
ISIN:        DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9 
WKN:         A1X3XX, A12T64, A2GSCV, A2NBZG 
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 
EQS News ID: 1156174 
 
End of News DGAP News Service 
 
1156174 2020-12-18 
 
 

(END) Dow Jones Newswires

December 18, 2020 01:30 ET (06:30 GMT)

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