Deutsche Immobilien Chancen Group (DIC) with registered office in Frankfurt is one of Germany's leading investment companies for commercial real estate.
The business model focuses on private equity investments in the SDAX-listed DIC Asset AG and the GEG German Estate Group AG. It also includes joint venture equity investments in property developments.
All agenda items approved by clear majority votes / Dividend increase for 2015, to EUR 0.37 per share (2014: EUR 0.35) / Ulrich Höller confirmed as member of the Supervisory Board / EUR 87 million in disposals as at end of H1 / Expanding the funds business with two new funds / Management Board confirms guidance for 2016 (FFO: EUR 43 – 45 million) >>
The Frankfurt-based GEG German Estate Group AG just acquired the renowned “IBC – International Business Campus” in Frankfurt am Main in an off-market transaction. The property consists of three building complexes. Located at Theodor-Heuss-Allee 70-74 and extending over a gross lettable area of 84,000 sqm, it is occupied on long-term leases, and complements the “landmark core” business line of the GEG portfolio. >>
Operating profit (FFO) up 20 per cent, to EUR 14.5 million (Q1 2015: EUR 12.1 million) / "Strategy 2016" successfully concluded: LTV at 58.8 per cent / EUR 11.8 million consolidated profit for the period markedly higher year-on-year (Q1 2015: EUR 1.3 million) / Fees from real estate management rise to EUR 7.4 million / Stake in WCM Beteiligungs- und Grundbesitz-AG raised to 24.9 per cent / Annual targets for 2016 affirmed >>
The GEG concluded a contract regarding the acquisition of the Villa Kennedy landmark hotel, one of the core assets in Germany's luxury hotel market. The property was sold by Commerz Real: It was part of the open-end real estate funds “hausInvest”. >>