The DIC Group is one of the leading investors in the German market for commercial real estate

Press Release

DIC: Lease over 2,000 sqm signed for the Opera Offices NEO complex currently under construction

Frankfurt, 14.09.2015

• Around 60 percent of the floor plate of 8,500 sqm now prelet
  

Frankfurt-based real estate investor Deutsche Immobilien Chancen (DIC) just signed two lease agreements for the Opera Offices NEO property at Grosse Theaterstrasse 31 – 35 in Hamburg:

• The tax services firms of Conrad & Partner Steuerberatungsgesellschaft mbB and of Lahann + Partner Steuerberatungsgesellschaft mbH together rented around 1,100 sqm that will accommodate the companies’ entire business premises. The transaction was brokered by the estate agency JLL (Jones Lang LaSalle).
• At the same time, the law firm FPS Fritze Wicke Seelig Partnerschaftsgesellschaft von Rechtsanwälten mbB rented around 900 sqm of office and archive area for its office in Hamburg.
• Last year, around 30 percent (c. 2,800 sqm on the 5th to 7th floor) were prelet to IMMAC Holding AG, an investment company domiciled in Hamburg. This brings the volume of office and commercial space let on forward commitments to roughly 60 percent of the total floor area of 8,500 sqm.

About Opera Offices NEO:
In downtown Hamburg, right across from the opera house, a development of a mixed office-commercial building with a total commercial floor area of 8,500 sqm is under way, to be completed by summer 2016. The foundation stone was laid on 21 May 2015. The investment volume will total approximately 35 million euros. DIC Asset AG holds a 20-percent interest in the Opera Offices NEO property development.

DIC acquired the property in 2006 – together with 50 other commercial properties – as part of a real estate portfolio (known as “Primo 3”) from the City of Hamburg. The plot was formerly occupied by administrative buildings of Hamburg's state opera. In 2008/2009, planning was completed for two building complexes under the name “Opera Offices.” The first of these, Opera Offices Klassik (today: Schumacher Kontor) was completed in 2013 and sold to a Hamburg-based investor. In late 2014, construction work started on the Opera Offices NEO complex of buildings.

The building was designed by the renowned architectural firm of Störmer Murphy and Partners, the same company that was previously commissioned to build the property Opera Offices Klassik. The building complex will have a spectacular sinuous architecture and a height of nearly 30 metres and include, in addition to the ground floor, a basement floor with 34 underground car park slots, and seven upper floors. A modern flagstone / aluminium façade will visually connect to the historic neighbourhood.

The plans calls for retail units and restaurants on the ground floor. The first and the seventh floor are topped by two large rooftop patios. The building is to be certified as green building according to the “Silver” standard of the DGNB German Sustainable Building Council.

Activities of DIC in Hamburg
Since 2007, DIC has maintained a footprint in Hamburg through a dedicated office of its asset and property manager DIC Onsite. The branch manages the property portfolio in the Northern Germany region (“Region Nord,” one of altogether six regional offices in Germany). Region Nord has a total of 33 property complexes with nearly 300,000 sqm in commercial floor area under management which yield a rental income of c. 27 million euros annually. The portfolio of Region Nord includes well-known properties such as Behördenzentrum Hamburg-Rothenburgsort, Hygieneinstitut Hamburg (Marckmannstrasse 129) or Elbspeicher (Grosse Elbstrasse 39).

For more details on the OPERA OFFICES NEO project, please go to the Internet at www.opera-offices.de.

About Deutsche Immobilien Chancen Gruppe (DIC)
Deutsche Immobilien Chancen (DIC) with registered office in Frankfurt am Main was set up in 1998. Today, it is active across Germany and one of the country's leading investment entities for commercial real estate. The business model focuses on equity investments in the listed company DIC Asset AG (SDAX) and the public limited company GEG German Estate Group AG. In addition, DIC engages in joint venture investments in property developments such as the MainTor quarter in Frankfurt or the Opera Offices NEO in Hamburg.

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