DGAP-News DIC Asset AG acquires Refurbishment under Cashflow in Stuttgart region - Seite 2
The property is conveniently located next to the A8 motorway and directly next to the
Daimler Truck Campus, which is under construction at this time. The property has around 17,900 sqm of lettable area and 288 parking spots. With three lease agreements signed so far-the incoming office tenants including an automotive supplier, a flexible office provider and an IT consultancy-the pre-let ratio of the property is now about 56%. Further rental contracts are currently being negotiated. Upon full occupancy, the average weighted lease term (WALT) will be around 8.5 years. The completion will happen in the second quarter of 2021.
The established and steadily growing office market in Leinfelden-Echterdingen is located south of the regional state capital of Stuttgart near the city's airport, which plays a central networking role in this economically strong region. Given the persistently strong demand on the German investment market, DIC Asset AG expects to keep seeing a high level of transaction activity in Stuttgart and elsewhere.
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 8.5 billion under management (as of 30/06/2020).
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 30/06/2020), 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 6.6 billion in assets under management, as of 30/06/2020), 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.