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

Press Release

DIC Asset AG completes lettings in Baden-Württemberg and Bavaria

Frankfurt, 09.08.2023

• The lettings of a total of around 9,150 sqm include:
• New lease signed for “Gate 9” multi-tenant office building in Leinfelden-Echterdingen near Stuttgart
• Premature lease renewal at a retail property in Regensburg
• Full occupancy of an office building in Heidelberg secured by signing two new lease agreements

Frankfurt am Main, 9 August 2023 DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, recently signed another four lease agreements for a combined retail and office space of around 9,150 sqm. The signings represent both new lettings and lease renewals for premises in properties held in the Commercial Portfolio and in the Institutional Business.

“We are achieving a consistently strong lettings performance through our teams and are strengthening our operational excellence. We are close to the market and close to our tenants. With our problem-solving competence to roll back vacancies we keep creating value. Our creative and dynamic performance in this challenging market environment makes us the partner of choice for our clients,” commended Christian Fritzsche, Chief Operations Officer at DIC.

Details on the various lettings

DIC’s lettings team in Munich prematurely renewed a long-term lease for around 5,900 sqm of retail area located at Donaustaufer Strasse 168 in Regensburg with tedox KG. The tenant, a retail company for DIY supplies and home fabrics, has occupied the property since early 2006.

Meanwhile, DIC’s lettings team in Mannheim concluded three lease agreements for a combined office area of around 3,300 sqm. For the “Gate 9” multi-tenant property in Leinfelden-Echterdingen (Stuttgart region), located at Fasanenweg 9, the lettings team managed to sign up Delta Controls Germany GmbH. The company, which produces smart solutions in building automation, will move into an office unit of 1,100 sqm on the fifth floor that includes a roof terrace. Aware of its value-add potential, DIC acquired the property in 2020 and thoroughly modernised it in the time since. It occupies a conveniently accessed location next to the A8 motorway and provides around 17,900 sqm of lettable area along with 300 car parking spots. Negotiations for further lease agreement are ongoing. Both assets are held in the Commercial Portfolio.

In the case of the office building at Vangerowstrasse 18-20 in Heidelberg, which DIC manages for third parties, the lettings team signed a lease with a private company from the educational and healthcare sector for a unit of around 1,700 sqm before the expiry of the incumbent tenant’s lease. The lease term is 15 years. In addition, a new lease for a unit of 480 sqm was signed with an incumbent tenant on optimised conditions from which both sides stand to gain. The property, which has a total floor area of around 14,000 sqm, thus remains fully occupied for the long term.

About DIC Asset AG:

DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 358 assets with a combined market value of EUR 14.2 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.

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