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

Press Release

DIC and Morgan Stanley acquire Degussa property in Frankfurt

Frankfurt, 17.10.2005

Frankfurt-based DIC real estate group and Morgan Stanley Real Estate Fund (MSRF) succeeded in the a tender for the acquisition of the Degussa property in the city of Frankfurt. The Degussa property com-prises over 65,000 m² of rental space in the city center of Frankfurt adjacent to the Main riverbank. DIC intends to transform the property into a new city quarter in a long-term project development in close co-operation with the municipality of Frankfurt. Degussa will enter into long-term, 10-year lease contracts for office space required to accommodate their about 950 Frankfurt employees. In this transaction, DIC and MSRF were supported by NAI apollo.

The well-known Degussa property had been developed over many decades and is densely built-up today. The eldest house, now classified as a historical building, was built in 1823 pursuant to the plans of the city architect at that time, Johann Friedrich Christian Hess. Most buildings, however, were built in the second half of the 20th century, the latest ones in the 1980ies.

Ulrich Höller, President of the DIC group: "The acquisition of the real estate portfolio of Frankfurter Sparkasse and the purchase of the well-known Degussa property are clear indications of the future prospects of Frankfurt's property market and long-term market development perspectives."

Photographs: We have good photographs of the Degussa property and would be pleased to provide them to you upon request.

Notes on DIC
DIC (Deutsche Immobilien Chancen) was founded in 1998 and, with its innovative investment philosophy and its focus on the German market, is one of the leading and most successful corporations in Germany specializing in commercial real estate transactions. Its business activities include portfolio and asset management, project development and opportunistic investments. The real estate assets managed by the DIC real estate group currently amount to over Euro 750 million.

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