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

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.

Press Release

DIC Asset AG Gains c. EUR 34 Million in Profits from Successful Sale of Two Non-Strategic Properties

Frankfurt, 20.10.2020

  • Two properties in Berlin and in Düsseldorf sold for c. EUR 108 million
  • Sales prices exceed most recent market values by around 20%
  • Volume of property sales reaches forecast target

Frankfurt am Main, 20 October 2020. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, notarised the sale of two non-strategic properties out of its Commercial Portfolio, thereby realising their good value performance of the last years. One of the sales involved a multi-tenant property on Landsberger Strasse in Berlin-Mahlsdorf, the other one a hotel property on Münsterstrasse in Düsseldorf. The transfer of rights, benefits and obligations is planned for mid to end of the fourth quarter 2020.

The two properties, each sold to a different buyer, achieved a combined sales price of c. EUR 108 million, which is around 20% above the last market values appraised. The sales profit from the two transactions approximates EUR 34 million, while the cash flow adds up to c. EUR 60 million (either figure before taxes).

The cumulative property sales volume of c. EUR 120 million achieved in 2020 to date has thus reached the year's sales target for the Commercial Portfolio.

About DIC Asset AG:

With more than 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has 186 assets with a combined market value of c. EUR 8.5 billion under management (as of 30/06/2020).

Taking an active asset management approach, DIC Asset AG employs its proprietary, integrated real estate management platform to raise capital appreciation potential company-wide and to boost its revenues.

In its Commercial Portfolio division (EUR 1.9 billion in assets under management, as of 30/06/2020), DIC Asset AG acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio.

In its Institutional Business division (EUR 6.6 billion in assets under management, as of 30/06/2020), which operates under the name GEG German Estate Group, DIC Asset AG generates income by structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.

DIC Asset AG has been SDAX-listed since June 2006.

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492

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Deutsche Immobilien Chancen AG & Co. KGaA

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