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DIC Asset AG exceeds its 2020 transaction targets, starts new year dynamically with its first acquisition and has big plans for 2021, too

DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate DIC Asset AG exceeds its 2020 transaction targets, starts new year dynamically with its first acquisition and has big plans for 2021, too 20.01.2021 / 07:42 The issuer is solely responsible for the content of this announcement. Press Release

DIC Asset AG exceeds its 2020 transaction targets, starts new year dynamically with its first acquisition and has big plans for 2021, too

• Transaction total above target with c. EUR 2.5 billion in 2020
• "Goldenes Haus" building in Frankfurt acquired on behalf of institutional investors in late 2020
• "ILP Erfurter Kreuz" international logistics park the first asset acquired in 2021
• Takeover of logistics specialist RLI Investors completed in early January
• Pro forma, assets under management already exceed EUR 10 billion now

 

Frankfurt am Main, 20 January 2021. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, exceeded its planned transaction targets during the 2020 financial year with an excellent year-end finish. The acquisition volume across segments approximated EUR 1.8 billion, with the Commercial Portfolio accounting for EUR 213 million and the Institutional Business for EUR 1,625 million thereof. This means the target benchmark of EUR 200-300 million for the Commercial Portfolio has been achieved. For the Institutional Business the targets were exceeded, not least due to big-volume acquisitions like "Deka Office Hub" and "Lincoln Offices" which were signed in December. All targets on the dispositions side were topped as well, with sales worth EUR 242 million reported from the Commercial Portfolio and EUR 370 million from the Institutional Business.

All things considered, the company's transactions in 2020 add up to c. EUR 2.5 billion, exceeding even the record year 2019 by a significant amount. This leads to increased assets under management as of 31 December 2020 of EUR 9.6 billion, thereof EUR 2.0 million for the proprietary portfolio and EUR 7.6 billion for the third-party business. In addition, the takeover of RLI Investors GmbH with assets under management of more than EUR 700 million (announced on 23 December 2020) was finished in January. This leads to an increase of pro-forma assets under management to more than EUR 10 billion as of the year-end. For 2021, DIC Asset AG plans transaction for all segments in a volume between EUR 1.5 billion and EUR 2.2 billion.