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

Press Release

DIC arranges successful onward sale of Telekom property in Magdeburg

Frankfurt, 27.04.2005

DIC, the Frankfurt-based real estate investment group, has successfully arranged the sale of a further property from the Deutsche Telekom portfolio it acquired in 2003. The Telekom property in Magdeburg has been sold to an Israeli investment group for approx. Euro 16 million. The property, with floor space of around 19,000 sq. m., is let on a long-term basis to Deutsche Telekom. DIC Starwood Immobilien GmbH was the selling company.

About the DIC real estate group
The DIC real estate group, Frankfurt am Main, is involved in portfolio and asset management, project development and opportunistic investments, focusing mainly on the German commercial real estate market.

Portfolio and asset management is dealt with by DIC Asset AG, a group subsidiary. DIC Asset currently manages commercial real estate with a total volume of over Euro 310 million, including the German headquarters of eBay and a portfolio of around 60 properties in good to very good locations in downtown Frankfurt with Frankfurter Sparkasse as main tenant.

The group’s expertise in the development of complex real estate projects ranges from development and planning through marketing of the properties. Current projects include “meet at the Casino” in Trier and the redevelopment of the Main Post Office site in central Erfurt.

DIC’s opportunistic investment activities involve the acquisition of larger real estate portfolios with a pronounced risk/opportunity profile, in co-operation with international partners such as Morgan Stanley. Other business opportunities within this risk category (e.g. distressed loans) are also taken advantage of on a selective basis.

The overall volume of real estate assets managed by the DIC group totals approximately Euro 700 million.

<< back