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DIC Asset AG successfully sold Riverpark development project in Frankfurt am Main

DGAP-News: DIC Asset AG / Key word(s): Real Estate DIC Asset AG successfully sold Riverpark development project in Frankfurt am Main 20.04.2021 / 07:32 The issuer is solely responsible for the content of this announcement. Press Release

DIC Asset AG successfully sold Riverpark development project in Frankfurt am Main

Frankfurt am Main, 20 April 2021. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, today announces the disposal of Riverpark, a development project in direct riverside location in downtown Frankfurt (on Wiesenhüttenstrasse / Untermainkai), through its subsidiary GEG German Estate Group GmbH ("GEG") on behalf of an individual mandate. GEG already held the development asset in its portfolio at the time the company was taken over by DIC Asset AG in 2019. The transfer of possession, benefits and burdens is scheduled for the coming weeks. It was agreed not to disclose the selling price.

The standing property on Wiesenhüttenstrasse was until now used for commercial purposes, most notably as offices. The previous occupier (Union Investment) has vacated the premises.

"In conjunction with the continuous analysis of our portfolio and in line with the ongoing concentration on specific asset classes, we decided together with the institutional investor of this individual mandate, and after having looked into several strategic options, to dispose of the entire project, thereby achieving the best possible exit for the investor," commented Christian Bock, Chief Institutional Business Officer of DIC Asset AG.

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.