DGAP-News

DIC Asset AG exceeds its 2020 transaction targets, starts new year dynamically with its first acquisition and has big plans for 2021, too - Seite 2

"Notwithstanding the adverse circumstances caused by the COVID-19 pandemic, we are looking back at another record year on the transactions market, during which our teams delivered a great performance both on the acquisitions and on the dispositions side. The assets under our management are growing not just through our continuous acquisitions for our proprietary portfolio, for institutional funds or within the framework of club deals, but have also jumped our target mark of EUR 10 billion in assets under management as a result of having taken over RLI Investors. Business in the 2021 financial year has directly continued in the same spirit. We are pleased to report the acquisition of the high-end logistics property in the 'Erfurter Kreuz' business estate in Arnstadt, the first deal from our transactions pipeline this year," commented Sonja Wärntges, CEO of
DIC Asset AG.

More Details on Property Acquisitions

Close to the end of 2020, DIC Asset AG had the deed for the "Goldenes Haus" property in Frankfurt am Main notarised through its subsidiary, GEG. The property was purchased for total investment costs (TIC) of EUR 192 million within the framework of a club deal on behalf of institutional investors. The fully occupied landmark office property at Theodor-Heuss-Allee 80, a well-established address in the City West locality of downtown Frankfurt, has a lettable area of around 33,000 sqm and was comprehensively modernised between 2019 and 2020. Its two blue-chip tenants - one being Landwirtschaftliche Rentenbank, the other Finanz Informatik - ensure secure long-term cash flows.

In the Thuringian town of Arnstadt, DIC Asset AG had its first acquisition of 2021 notarised, as it acquired a property at the "Erfurter Kreuz" industrial and business estate. Seller of the second construction stage of the ILP international logistics park was OFB Projektentwicklung GmbH. The two contractual partners agreed not to disclose the selling price. The property is fully occupied on a long-term lease by the internationally operating logistics service provider DACHSER SE. Extending over an area of around 54,000 sqm, the site hosts two logistics warehouses with more than 21,000 sqm of warehouse and logistics space plus 700 sqm of office space. Also located on the grounds are 51 car parking spots and 24 HGV parking spots. The property is scheduled to be completed before the end of the first quarter of 2021.