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DIC ASSET AG (FRA:DAZ) DIC Asset AG successfully sold Riverpark development project in Frankfurt am Main

Directive transparence : information réglementée

20/04/2021 07:32

DGAP-News: DIC Asset AG / Key word(s): Real Estate
DIC Asset AG successfully sold Riverpark development project in Frankfurt am Main

20.04.2021 / 07:32
The issuer is solely responsible for the content of this announcement.


Press Release

DIC Asset AG successfully sold Riverpark development project in Frankfurt am Main

Frankfurt am Main, 20 April 2021. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, today announces the disposal of Riverpark, a development project in direct riverside location in downtown Frankfurt (on Wiesenhüttenstrasse / Untermainkai), through its subsidiary GEG German Estate Group GmbH ("GEG") on behalf of an individual mandate. GEG already held the development asset in its portfolio at the time the company was taken over by DIC Asset AG in 2019. The transfer of possession, benefits and burdens is scheduled for the coming weeks. It was agreed not to disclose the selling price.

The standing property on Wiesenhüttenstrasse was until now used for commercial purposes, most notably as offices. The previous occupier (Union Investment) has vacated the premises.

"In conjunction with the continuous analysis of our portfolio and in line with the ongoing concentration on specific asset classes, we decided together with the institutional investor of this individual mandate, and after having looked into several strategic options, to dispose of the entire project, thereby achieving the best possible exit for the investor," commented Christian Bock, Chief Institutional Business Officer of DIC Asset AG.


About DIC Asset AG:

DIC Asset AG is Germany's leading listed specialist for commercial real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with eight offices on the ground in all major German markets. We manage 225 assets with a combined market value of c. EUR 10.3 billion on site, always close to our properties and their occupiers.

The Commercial Portfolio segment (EUR 2.0 billion in assets under management) represents the proprietary real estate portfolio of DIC Asset AG. Here, we generate constant cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management and realising gains from sales.

In the Institutional Business segment (EUR 8.3 billion in assets under management), we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment vehicles that return attractive dividend yields.

DIC Asset AG has been SDAX-listed since June 2006.

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492
ir@dic-asset.de



20.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: DIC Asset AG
Neue Mainzer Straße 20
60311 Frankfurt am Main
Germany
Phone: +49 69 9454858-1492
Fax: +49 69 9454858-9399
E-mail: ir@dic-asset.de
Internet: www.dic-asset.de
ISIN: DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9
WKN: A1X3XX, A12T64, A2GSCV, A2NBZG
Indices: S-DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 1186308

 
End of News DGAP News Service

1186308  20.04.2021 

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