Frankfurt, 10.04.2006
Frankfurt-based DIC Asset AG has made a further addition to its
investment portfolio, purchasing the headquarters of VdS
Schadenverhütung GmbH in Cologne’s Amsterdamer Straße. VdS
Schadenverhütung is a subsidiary of the German Insurance Association
GDV and employs around 300 staff at the Cologne premises. The
acquisition comprises some 7,000 sqm of office space and research
facilities, part of the total site area of 17,000 sqm. The investment
amount is in the region of EUR 11.5 million. The property is leased
long-term to VdS Schadenverhütung.
DIC Asset’s CEO Jürgen Overath commented: “Our acquisition of the VdS
headquarters represents a further step forward in our growth strategy,
with the emphasis on investments in properties leased to top-quality
tenants, located in regions showing strong economic growth. We view
Cologne as a particularly attractive market for investment and we shall
continue to expand our portfolio holdings in this area.”
About DIC Asset AG
Established in Frankfurt in 2002, DIC Asset AG is a real estate company
investing exclusively in commercial properties in Germany on the
principle of a yield-led investment strategy. DIC Asset AG’s property
portfolio currently comprises a total of just under 270,000 sqm floor
space in 127 properties. The real estate portfolio is split into three
segments: the Core Portfolio contains the longer-term asset holdings
with stable, attractive rental yields; the Value-added Portfolio
comprises properties with interesting potential for value gains with a
medium-term investment horizon; Opportunistic Co-investments is the
portfolio in which property investments with a higher risk/return
profile are held, where tailor-made business plans can enable the
properties to be repositioned in the market and subsequently re-sold.
The real estate holdings under management currently amount to some EUR
780 million. The properties include eBay’s German headquarters, the
head office of Pfleiderer AG, the property portfolio of Frankfurter
Sparkasse and a participation in a diversified portfolio of German
properties acquired from MEAG at the end of 2005 jointly with Morgan
Stanley Real Estate Funds (MSREF).
Deutsche Immobilien Chancen AG & Co. KGaA
Neue Mainzer Straße 32 - 36
60311 Frankfurt am Main
Germany
Phone
+49 (0) 9450709–0
Fax
+49 (0) 69 9450709–9998