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DGAP-News: DIC Asset AG
/ Key word(s): Real Estate
Press Release DIC Asset AG Initiates Successful Club Deal for "Infinity Office"
The total investment costs equal c. EUR 175 million. Through its subsidiary GEG, DIC Asset AG as initiator of the club deal and future asset- and property manager generates real estate management income starting in the second quarter of 2020. As at 31 March 2020, the Assets under Management for both segments thus grew to EUR 8.4 billion. "We appreciate the opportunity to demonstrate once again the clout of our Institutional Business unit by concluding the Infinity deal. Through their stakes in the "Infinity Office", our investors participate in a top property with continuous attractive distributions," comment Christian Bock and Dirk Hasselbring, Members of the Board of GEG, on the completed transaction. The "Infinity Office" in Düsseldorf provides around 20,500 sqm of lettable area and around 280 underground car parking spots. Its anchor tenant is Bankhaus Lampe, occupying about 70 % of the lettable area. Other office occupiers have also moved in already. The total letting quote is 86% with a WALT of around 12 years.  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 186 assets with a combined market value of c. EUR 8.4 billion under management (as of 31/03/2020). 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 1.9 billion in assets under management, as of 31/03/2020), 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 6.5 billion in assets under management, as of 31/03/2020), which operates under the name GEG German Estate Group, DIC Asset AG generates income from 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:
28.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | DIC Asset AG |
| Neue Mainzer Straße 20 | |
| 60311 Frankfurt am Main | |
| Germany | |
| Phone: | 1492 |
| Fax: | 9399 |
| E-mail: | |
| Internet: | -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: | 1028823 |
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| End of News | DGAP News Service |
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1028823Â Â 28.04.2020Â
