|
DGAP-News: DIC Asset AG
/ Key word(s): Disposal
Press Release DIC Asset AG sells 2 Properties in Duisburg and achieves a Sales Margin of around 28% across all Segments in 2019
Frankfurt am Main, 19 December 2019. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, just sold two office properties from its Commercial Portfolio to the Continental Long Lease Strategy (CELLS) Fund from Aviva Investors. Both administrative buildings, located at Hansastrasse 15 and Königsberger Allee 28, respectively, are tenant-occupied by Deutsche Bahn AG. The two properties with a combined floor area of around 28,700 sqm were part of the proprietary portfolio (Commercial Portfolio) of DIC Asset AG since 2007. For both properties a combined selling price of c. EUR 95 million was achieved which leads to profits of c. EUR 28 million above balance sheet value. The transfer of possession, rights and obligations is expected to take place before year-end 2019. "The two sales in Duisburg mark the continuation of our portfolio optimisation strategy as we have achieved our sales target for the year with a total volume of EUR 226 million. The transaction prices achieved across all segments in the fiscal year 2019 top the most recently in December 2018 appraised fair market values by around 28% on average," commented Johannes von Mutius, Head of Investments at DIC Asset AG. On the seller side, the sales process was exclusively facilitated by CBRE GmbH.  About DIC Asset AG: With more than 20 years of experience on the German real estate market, DIC Asset AG maintains a regional footprint on all major German markets through six branch offices, and has 173 assets with a combined market value of c. EUR 7.3 billion under management (as of 30 September 2019). 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 1.8 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 5.5 billion in assets under management), 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:
19.12.2019 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: | 939851 |
| Â | |
| End of News | DGAP News Service |
|
|
939851Â Â 19.12.2019Â
