DIC Asset AG — M&A Activity 2006

Aug 26, 2006

News Details

Ad-hoc | 26 August 2006 22:26

DIC Asset AG acquires real estate portfolio of the FAY Group, plus majority stake in real estate management company

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— DIC Asset AG, the exchange-listed real estate investor based in Frankfurt, has acquired the entire real estate portfolio of FAY Group, comprising 55 properties with a total rentable area of 292,000 sqm. Total investment volume was around EUR 585 million. Moreover, DIC Asset AG also acquired a 74.9% stake in FAY Property Management GmbH. Led by an experienced management team, the company has been very successful in providing real estate, asset, and facility management services for more than 10 years. FAY Property Management employs 25 staff between its Mannheim headquarters and a branch office in Dusseldorf. FAY will retain a 25.1% stake. As a result of this transaction, DIC Asset AG has doubled its portfolio to approx. 750,000 sqm floor space, with real estate assets under management of around EUR 1.8 billion. The expansion gives the company a solid foundation for an even more active portfolio management approach. Almost two-thirds of the acquired portfolio consists of office and administration properties, with the remainder comprising retail and mixed-use properties. Approximately 40% of the portfolio is concentrated in the Rhine-Neckar region in Southern Germany, with sites in Mannheim, Ludwigshafen, and Heidelberg. A further 45% is located in the Rhine-Main region including Frankfurt. The properties are in top inner-city locations, featuring sophisticated architectural design and high construction quality. Almost 90% are currently rented out – many to first-class tenants, and with long-term contracts: the average rental period for the overall portfolio is above 6.5 years. Actual rental income amounts to approximately EUR 39 million per annum. DIC Asset AG Stephan Gramkow Grünhof · Eschersheimer Landstraße 223 60320 Frankfurt am Main Tel. (069) 27 40 33-10 Fax (069) 27 40 33-70 ir@dic-asset.de (c)DGAP 26.08.2006 ————————————————————————— Language: English Issuer: DIC Asset AG Eschersheimer Landstr. 223 60320 Frankfurt Deutschland Phone: 069 / 274033-0 Fax: 069 / 274033-69 E-mail: info@dic-asset.de WWW: www.dic-asset.de ISIN: DE0005098404 WKN: 509840 Indices: S-DAX Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, München, Stuttgart, Düsseldorf End of News DGAP News-Service —————————————————————————