DIC Deutsche Immobilien Chancen AG & Co. KGaA
DIC Group sells Commercial Center ‘Grünhof’ in Frankfurt to Bayerische Versicherungskammer
DIC Deutsche Immobilien Chancen AG & Co. KGaA / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- The Frankfurt-based company DIC - Deutsche Immobilien Chancen AG & Co. KGaA has sold the 'Grünhof' commercial center in Frankfurt with about 15,000 sq.m office and commercial space to Bayerische Versicherungskammer (for their supplementary insurance for the Bavarian local authorities). The transaction volume is about EUR 47 million. During the transaction, BVK were advised by the brokers Trompetter Immobilien GmbH. Following an anti-cyclical investment strategy, DIC had acquired the 'Grünhof' immediately after its completion in early 2004 together with MSREF (Morgan Stanley Real Estate Funds) – each with a 50 per cent interest – as a vacant commercial center in mint condition. In the following years DIC had repositioned the commercial center with a new marketing concept. Today, the complex is leased at nearly 100 per cent. The DIC Group (including DIC Asset AG) has its head office there along with the German office for the headquarters of Nintendo Europe. Also located there are the German headquarters of the PA Consulting Group, the business consultants Grolman Result and the REWE store with a sales area of more than 4,000 sq.m, which was recently chosen as the best German supermarket by the German food journal 'Lebensmittelzeitung'. DIC CEO Ulrich Höller: 'We acquired this property unlet at a time when demand was low and we had difficult market conditions. The leasing results of the last years show that we succeeded in realising the buildings opportunities. What the transaction also shows is that attractively positioned property– also with larger transaction volumes - is still disposable even in the actual difficult market environment.' About DIC DIC (Deutsche Immobilien Chancen), active throughout Germany, was founded in Frankfurt in 1998 and, with its innovative investment philosophy and its focus on the German market, is one of the most prominent and successful firms in Germany specialising in commercial real estate transactions. Its business activities include portfolio and asset management, which are handled by its SDAX listed company, DIC Asset AG, as well as project development and opportunistic investments. It currently has an interest of approximately 40 per cent in DIC Asset AG. The real estate assets managed by the DIC Group currently amount to around EUR 3.5 billion. Further information about DIC is available at www.dic-ag.de DIC/Investor Relations: Ina Lack Grünhof Eschersheimer Landstraße 223 60320 Frankfurt am Main Fon. +49-69 - 27 40 33 0 Fax +49-69 - 27 40 33 99 info@dic-ag.de 19.01.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: DIC Deutsche Immobilien Chancen AG & Co. KGaA Eschersheimer Landstr. 223 60320 Frankfurt am Main Deutschland Phone: +49 69 274033-10 Fax: +49 69 274033-70 E-mail: info@dic-ag.de Internet: www.dic-ag.de ISIN: WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden