DIC Asset AG — M&A Activity 2007

Oct 7, 2007

News Details

Ad-hoc | 7 October 2007 08:29

DIC Asset AG acquires real estate portfolio for EUR 320 million

DIC Asset AG / Miscellaneous

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Frankfurt-based DIC Asset AG has acquired a real estate portfolio with a
total area of around 182,000 sqm from AXA-Group Germany as well as DBV
Winterthur Insurance Group. The total investment volume, including
transaction costs, stands at EUR 320 million. Overall, the area is divided
into 15 real estate complexes mainly in the Rhine-Main region, Wiesbaden,
Düsseldorf, Berlin and Munich. Almost all of the properties are used as
office blocks and business premises.

Following the sale, Axa and DBV Winterthur will lease back around 37% of
the space on a long-term basis. Moreover the high-quality properties are
mostly leased to prime tenants such as Telekom, SAP and Saturn. The rental
area is 94 per cent leased and has an average lease period of just under
six years. The current annual rent is approx. EUR 23 million, which
corresponds to a rental yield of 7.1 per cent (based on the total
investment volume). The financing of the transaction was supported by
Berlin Hyp/Landesbank Berlin, the seller was advised by CB Richard Ellis.

The properties purchased for the Core and Value-added segment of DIC Asset
AG will remain in the portfolio mostly in the medium to long term. In the
context of optimised management, they are making a significant contribution
to securing and increasing the cash flow. In addition, DIC will also
realise value-added potential as a result of active management, reletting
and in part, repositioning through redevelopment measures.

DIC Asset AG/Investor Relations
Stephan Gramkow
Grünhof · Eschersheimer Landstraße 223
60320 Frankfurt am Main
Tel: +49 (0) 69 9 45 48 58-39
Fax: +49 (0) 69 9 45 48 58-99
ir@dic-asset.de

07.10.2007 Financial News transmitted by DGAP

Language: English
Issuer: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt
Deutschland
Phone: +49 69 9454858-0
Fax: +49 69 9454858-99
E-mail: info@dic-asset.de
Internet: www.dic-asset.de
ISIN: DE0005098404
WKN: 509840
Indices: S-DAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin, München, Stuttgart, Düsseldorf

End of News DGAP News-Service

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