DGAP-News
DIC Asset AG acquires established office property Bonnanova for special fund
DGAP-News: DIC Asset AG / Key word(s): Real Estate Press release |
DIC Asset AG acquires established office property Bonnanova for special fund
- Total investment costs (TIC) amount to EUR 95.2 million
- Fully leased office building in Bonn's federal district with public-sector tenant
- Long WALT of 9.5 years
- DIC acquisition volume since start of the year now at around EUR 1 billion
Frankfurt am Main, 27 September 2021. DIC Asset AG ("DIC"), ISIN: DE000A1X3XX4, one of Germany's leading listed property companies, just notarised the acquisition of the Bonnanova office property for its open-ended special fund GEG Public Infrastructure II. The transfer of possession, benefits and burdens is scheduled for the turn of the year.
The property, situated in a prime spot of the federal district in Bonn (Godesberger Allee
83-91), is well established as an office location, and offers a lettable area of around 18,600 sqm with high alternative use potential. The property is let in its entirety to the public sector (via
the BImA Institute for Federal Real Estate). The weighted average lease term (WALT) is around 9.5 years at the moment. Completed in 1992, the property is being extensively modernised for the tenant
at the moment.
The total investment costs (TIC) approximate EUR 95.2 million. This brings the notarised acquisitions volume for both segments of DIC since the start of the year up to c. EUR 1 billion.
"With the Bonnanova asset, we acquired yet another high-end property for our investment fund GEG Public Infrastructure II, whose distinguishing feature is the long-term secured cash flow of a public tenant. The modernization currently underway also increases the attractiveness and value of the property. Our acquisitions since the start of the year now add up to more than EUR 1 billion, and thereby show that we are right on track to achieve our annual targets," commented Sonja Wärntges, CEO of DIC.