DIC Asset Reports Further New Lettings: 6,200 sqm of Office and Logistics Space Let at "Stadttor" in Heidelberg and at "Red Square" near Frankfurt/Main
- Full occupancy achieved for "Red Square" property near Frankfurt Airport: new lease of over five years signed for around 1,500 sqm with one of the biggest international logistics service providers
- Lease renewal and expansion at "Stadttor" in Heidelberg: a total floor area of 4,700 sqm let to one of the world's leading logistics service providers for another nine years
Frankfurt am Main, 3 September 2021. DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, announced the successful conclusion of two new leases agreements for a combined floor area of 6,200 sqm today. The let units are located in logistics and office properties that are part of the portfolio.
"We significantly expanded our portfolio and our competencies in the logistics sector, and are therefore in a position to offer convincing facilities, ideas and solutions to this fast-growing industry. We are also aware that the entire market is gathering momentum. With our portfolio in logistics, office and retail units, and with our local teams on the ground, we are superbly positioned to create sustainable value-added for our tenants, clients and shareholders," commented Sonja Wärntges, the CEO of DIC Asset AG.
For its proprietary portfolio (Commercial Portfolio), DIC successfully negotiated a new lease involving a logistics unit at the Red Square property in Neu-Isenburg close to Frankfurt Airport. The lease was signed with an internationally active logistics service provider for a five-year term. The property has a total floor area of around 11,400 sqm. With this lease in place, the occupancy rate rose from 85% to 100%.
At Stadttor in Heidelberg, a property owned by the managed fund "DIC Office Balance I," DIC prematurely renewed and expanded a major lease agreement. Here, the existing tenant, one of the world's leading providers of technical consulting and planning services for production, logistics, architecture and IT, added 500 sqm of office space to its existing lease while renewing its term by roughly another 9 years, starting in April 2023. The property has a total floor area of around 11,200 sqm and is fully occupied now.
What convinced tenants was, inter alia, that the DIC team met their requirements and needs quickly and creatively, and offered reliable solutions. DIC Asset AG is well-positioned to keep growing during the second half-year, which is traditionally the busier one in the real estate industry.
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/PR Contact DIC Asset AG:
Leiter Investor Relations & Corporate Communications
Neue Mainzer Str. 20 * MainTor Primus
D-60311 Frankfurt am Main
T +49 69 9454858-1492
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