DGAP-News

DIC Asset AG Launches New Open-Ended Institutional Fund with Target Volume of EUR 1.6 Billion - Equity Capital of EUR 800 Million Fully Subscribed

DGAP-News: DIC Asset AG / Key word(s): Real Estate/Funds DIC Asset AG Launches New Open-Ended Institutional Fund with Target Volume of EUR 1.6 Billion - Equity Capital of EUR 800 Million Fully Subscribed 04.12.2020 / 07:30 The issuer is solely responsible for the content of this announcement. Press Release

DIC Asset AG Launches New Open-Ended Institutional Fund with Target Volume of EUR 1.6 Billion - Equity Capital of EUR 800 Million Fully Subscribed

• Open-ended institutional fund with a target volume of EUR 1.6 billion launched
• Equity commitments of more than EUR 800 million already subscribed
• Seed portfolio of four properties worth c. EUR 780 million Assets under Management
• Seed portfolio includes attractive high-end assets, including the new-build "Deka Office Hub" in Frankfurt and the successfully modernised "Wilhelminenhaus" in Darmstadt
• Acquisitions worth c. EUR 1.2 billion already exceed group's 2020 target - additional transactions expected until year-end

Frankfurt am Main, 4 December 2020. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, is setting up a new special AIF through its subsidiary GEG for a club of domestic institutional investors that will be the biggest investment vehicle by volume in the company's history to date. The investment focus of the new fund is on core properties occupied by blue-chip tenants with long-term lease agreements. The fund has a medium-term target volume of approximately EUR 1.6 billion. As investment manager of the fund, GEG will generate both transaction fees and earnings from the ongoing asset management and property management. Some of these will be recognised before the end of 2020.

Meanwhile, DIC Asset AG has already topped its most recently communicated full-year target of EUR 700 million to EUR 1.1 billion in acquisitions across segments, as the notarisations of real estate earmarked for the just-launched fond brought the acquisitions total up to c. EUR 1.2 billion for the financial year to date. It is planned to complete additional transactions before the end of the year.