DGAP-News

Dynamic start for the end-of-year spurt: DIC Asset AG acquires two properties totalling EUR 139 million

DGAP-News: DIC Asset AG / Key word(s): Acquisition/Real Estate Dynamic start for the end-of-year spurt: DIC Asset AG acquires two properties totalling EUR 139 million 08.11.2021 / 07:00 The issuer is solely responsible for the content of this announcement. Press Release

Dynamic start for the end-of-year spurt: DIC Asset AG acquires two properties totalling EUR 139 million

• For the Institutional Business: Operations centre of Deutsche Bahn acquired (TIC: EUR 117 million)
• For the company's own Commercial Portfolio: "Green Building" in Mettmann purchased (TIC: EUR 22 million)

Frankfurt am Main, 8 November 2021. DIC Asset AG ("DIC"), ISIN: DE000A1X3XX4, one of Germany's leading listed property companies, spent c. EUR 139 million in total investment costs (TIC) to buy two properties in Berlin and Mettmann (near Düsseldorf), respectively. One building houses the Berlin operations centre of Deutsche Bahn, which will be managed in an institutional infrastructure fund for third parties, while the other building is a certified multi-tenant office property in Mettmann that the company will keep on its own portfolio (Commercial Portfolio).

"The last weeks of the year are always very dynamic and full of opportunities in our industry. This year, too, we will use this time and the opportunities to add profitable investments to our portfolio. We will start with the two properties in Berlin and Düsseldorf. A good start for the finale of an already successful year and the best prospects for our development in 2022," commented Sonja Wärntges, CEO of DIC.

The Deutsche Bahn head office in Berlin meets all the requirements of the institutional investors in regard to tenant quality and infrastructure suitability and perfectly complements the existing fund. With the "Green Building", DIC acquired a property whose distinguishing features include a very stable cashflow from its public-sector occupiers.

More details on the assets:

The property in Berlin was purchased for TIC totalling EUR 117 million from Hannover Leasing, a subsidiary of Corestate, which managed it for many years as part of a mutual fund. Completed in 1998, the property was extensively modernised to a high standard in the years 2017 through 2020. It is located at Granitzstr. 55-56 in the district of Pankow, and fully occupied by Deutsche Bahn on a long-term lease. The property divides into two building sections with a combined lettable area of around 23,100 sqm and 154 parking spots. Deutsche Bahn uses the property as administrative headquarters and operations centre.