DIC: Presence on the ground and knowhow pay off - over 11,400 sqm in Frankfurt, Halle and Eschborn successfully let
- Full occupancy achieved at Palazzo Fiorentino: municipal agency in Frankfurt rents an additional 3,300 sqm of floor area
- Subsequent lease for 3,900 sqm secured with tenant of many years at Loftwerk in Eschborn
- New lease for 4,200 sqm at the Neustadt Centrum retail property in Halle negotiated in record time
Frankfurt am Main, 25 November 2021. DIC Asset AG ("DIC"), ISIN: DE000A1X3XX4, one of Germany's leading listed property companies, just reported another two successful lettings in Frankfurt and Eschborn on behalf of institutional investors in its third-party business division. In addition, a new lease was signed for premises in a property in Halle that is held in the proprietary portfolio. Overall, DIC concluded lease agreements for more than 11,400 sqm - yet another sign that occupier markets are reviving and gathering momentum.
"Operating nationwide, our letting teams are always close to the market action, and keep building trust-based relations with our existing tenants. At the same time, we do everything we can to meet the specific needs of our incoming tenants when signing new leases. Furthermore, we address the issues of ESG and the future of office space by providing the right kind of answers. This is the basis of our continued successes in the letting business," commented Sonja Wärntges, CEO of DIC.
Details on the Lettings
At the start of the year, the City of Frankfurt am Main rented around 7,600 sqm in the Palazzo Fiorentino office property on a new lease for a municipal agency, as reported at the time. DIC now signed another lease with the same agency for the remaining floor area of the property with a total area of around 10,900 sqm. This brings the property, which is held in an open-ended special AIF focusing on office assets, back up to full occupancy. In summer of 2022, following the completion of the ongoing modernisation works, the agency will open for public business at its new location.
At the Loftwerk multi-tenant property in Eschborn near Frankfurt, the letting teams of DIC successfully negotiated a subsequent lease for around 3,900 sqm with a long-term tenant from the medical technology sector. The property is held by a special AIF of DIC's "Office Balance" special fund series.
At the Neustadt Centrum retail property on Neustädter Passage in Halle, DIC let 4,200 sqm of floor area to a cinema on a ten-year lease. Following a brief vacancy, the shopping centre, which has a total floor area of 30,700 sqm, is almost fully occupied again. The cinema seats a combined audience of 1,650 in eight fully air-conditioned auditoriums, and is scheduled to re-open before the end of this year.
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 237 assets with a combined market value of c. EUR 11.4 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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