DIC Asset AG: Lease with C&A for 69,000 sqm of logistics space extended until 2025
- DIC secures continuous cash flow for its investors
- Fashion retailer C&A remains committed to the site in Mönchengladbach
- Lease renewal ensures that logistics centre remains fully occupied
Frankfurt am Main, 24 September 2021. DIC Asset AG ("DIC"), ISIN: DE000A1X3XX4, one of Germany's leading listed property companies, extends its lease agreement with C&A for 69,000 sqm of logistics space in Mönchengladbach until 2025. The property hosts the fashion retailer's largest and most important logistics centre in Europe. The company is the property's sole occupier.
"We are very pleased to continue our successful collaboration with this strategic tenant. By renewing the lease agreement and by securing the ongoing full occupancy of the logistics centre, we keep the cash flow sustainably and reliably stable for our investors," said Sonja Wärntges, CEO of DIC Asset AG.
The site is of paramount importance to C&A. Among the company's six distribution centres, it is the main goods handling facility for clothes and accounts for about one third of its entire goods turnover in Germany. Around 104 clothing stores are restocked from the Mönchengladbach facility. "We renewed the lease not just for strategic reasons, but also because we have come to appreciate DIC as a logistics expert by our side who collaborated with us to find purpose-driven solutions for all stakeholders during the pandemic. We continue to believe that they will keep supporting us with creative and constructive ideas going forward," added Markus Wagener, Head of European Logistics at C&A.
The logistics centre is located at Dieselstrasse 15 in Mönchengladbach, and is held in the portfolio of the open-ended special AIF "RLI Logistic Fund - Germany II."
With over 1,400 stores in 18 European countries and around 23,000 employees, C&A is one of Europe's leading fashion retailers. Every day, C&A welcomes more than two million visitors to its stores in Europe and offers good quality fashion at reasonable prices for the whole family. For further information please visit our website: www.c-a.com
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 234 assets with a combined market value of c. EUR 11.3 billion on site, always close to our properties and their occupiers.
The Commercial Portfolio segment represents the proprietary real estate portfolio of DIC Asset AG. Here, we generate steady 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, 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:
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492
24.09.2021 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de