DGAP-News

DIC Asset AG lets 7,600 sqm in Frankfurt and 2,200 sqm in Heidelberg - Seite 2

In March 2021, work will begin on renovating and modernizing the space. For example, the previous cafeteria will be converted into offices. These measures will lead to a significant upgrade of the property and a corresponding increase in rental income. In the summer of 2022, the authority will open its doors to the public at its new location, right on the Main River and opposite the European Central Bank. The property has a total of 10,900 sqm and is owned by a open-ended real estate special AIF with a focus on offices.

Additionally, in Heidelberg the company prematurely renewed the existing lease agreement for around 2,200 sqm that an advanced education centre occupies in a multi-tenant office property right by the River Neckar. The asset, located on Vangerowstrasse, is owned by an open-ended real estate special AIF, and is currently fully let, the average remaining term being 3.4 years.

"With its successful lettings, DIC Asset AG once again highlights the productivity of its nationally operating real estate platform for the commercial real estate market in Germany. We offer convincing quality and the competence of an established full-service solution that covers commercial real estate investments in all phases of the value-add cycle. Our presence on the ground in all of Germany's Top 7 cities and the 360 approach of our property value-add strategy set us apart as being particularly close to the market and to the client while covering the entire life cycle of a given property, from the initial investment, to the management side, and all the way to the eventual exit," adds Sonja Wärntges.

About DIC Asset AG:

DIC Asset AG is Germany's leading listed specialist for commercial real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with eight offices on the ground in all major German markets. We manage 225 assets with a combined market value of c. EUR 10.3 billion on site, always close to our properties and their occupiers.