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

Press Release

DIC Asset AG invests EUR 58 Million in portfolio of properties in Rhine-Main-Neckar region

Frankfurt, 12.12.2005

Frankfurt-based DIC Asset AG has added to its investment portfolio, purchasing a portfolio of eight properties in the Rhine-Main-Neckar region from Rheinische Grundbesitz & Beteiligungs AG. The portfolio comprises eight office/retail properties of Rhine-Main-Neckar region, including the new civic center at Offenbach, in which the City of Offenbach has leased space for several local authorities. The other properties, in Darmstadt (Wella), Wiesbaden (Federal Statistical Office), Bensheim (REWE) and other locations, are also let long-term to well-known names. The investment amount was approximately EUR 58 million, with usable floor space totalling around 43,000 qm. The seller was advised in this transaction by real estate agents Brockhoff & Partner Immobilien GmbH of Essen.

Ulrich Höller, CEO of DIC Asset AG, commented: “The purchase of the Rhine-Main-Neckar portfolio represents a further important step in the implementation of our expansion strategy, focusing on investments with first-class tenants in regions of strong economic growth.”

About DIC Asset AG
The Frankfurt-based company DIC (Deutsche Immobilien Chancen) Asset AG, is the stock-exchange listed subsidiary of the DIC real estate group, Frankfurt, founded in 1998. It is active in the acquisition, sale, management and development of commercial real estate in the German market. The DIC group uses DIC Asset AG primarily as the vehicle for its real estate asset portfolio, which has undergone major expansion over the last few years. The volume of real estate assets under its management currently amounts to around EUR 400 million. Among the most important transactions completed in the recent past were the purchases of eBay’s German headquarters, the real estate portfolio of Frankfurter Sparkasse and the Degussa site in Frankfurt, deals which attracted considerable attention within the real estate sector. 

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