DGAP-News

DIC Asset acquires Retail Property Portfolio worth 220 Million Euros for Planned Investment Fund

DGAP-News: DIC Asset AG / Key word(s): Real Estate/Acquisition
DIC Asset acquires Retail Property Portfolio worth 220 Million Euros for
Planned Investment Fund

28.07.2016 / 07:27
The issuer is solely responsible for the content of this announcement.

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Press Release
Frankfurt, 28 July 2016

DIC Asset AG acquires Retail Property Portfolio worth 220 Million Euros for
Planned Investment Fund

- Acquisition of hybrid centre in Halle an der Saale and two shopping
centres in Hamburg

- Gross lettable area of around 75,000 sqm fully occupied

- Acquisitions worth nearly 300 million euros for investment funds
already transacted in 2016

DIC Asset AG (German Securities ID A1X3XX / ISIN DE000A1X3XX4) just
purchased three retail properties for c. 220 million euros. The portfolio's
three assets have a gross lettable area of around 75,000 square metres, and
are fully occupied. The weighted average lease term is around eleven years.

Two of the properties are shopping centres in the non-discretionary retail
sector located in Hamburg, one in the district of Harburg and the other in
the Bergedorf district. Their combined floor area of around 44,500 square
metres is fully occupied on long-term leases. The anchor tenant in both
properties, which were modernised in 2011 and now sold by their private
owner, is Marktkauf Holding GmbH, a member company of Edeka Group.
Additionally, DIC Asset acquired the hybrid centre "Neustadt-Centrum" in
the East German town of Halle an der Saale, which in addition to the retail
units includes offices, restaurants and a cinema. The seller is a joint
venture between Curzon Capital Partners III, a fund managed by Tristan
Capital Partners, and Cornerstone Real Estate Advisers GmbH. The shopping
centre, which has a gross lettable area of 30,700 square metres plus 933
parking spots, is 99 percent occupied. The anchor tenant is a "real,-"
superstore on a long-term lease. The three-storey standalone property is
located next to a heavily frequented artery, and is conveniently connected
to the public transport system. Jones Lang LaSalle facilitated the
transactions in Halle and Hamburg. The HSH Nordbank AG provided the
financing for the purchase.

Aydin Karaduman, CEO of DIC Asset AG: "What distinguishes the retail
properties we acquired are their long-term leases and therefore their
highly stable revenues, the outstanding micro-locations, and the high
degree of centrality in their respective sub-markets. The assets are
superbly suited for a retail investment fund with attractive dividend
yields. At the moment, it is planned to set these properties aside for a