DIC combines asset and property management activities (DE)

Frankfurt-based DIC Asset AG has announced that it will, with immediate effect, be handling its asset and property management activities through DIC ONSITE GmbH, which has been established by the renaming of FAY Property Management GmbH.

This company was also taken over during the purchase of the FAY property portfolio by DIC. By means of this renaming and repositioning, it provides the strategically important asset and property management business segment with a separate market appearance, in close proximity to DIC, and lays the foundation for achieving further expansion potentials.

DIC Asset AG currently holds 74.9% of DIC ONSITE GmbH, the FAY Group holds 25.1%. At the start, DIC ONSITE has a staff of 40 employees. The managing directors are Marc Balkenhol (39) and Jörg-Dieter Rünzler (42).

The strategic repositioning also consists of an expansion in the network of branches of DIC Asset AG. In addition to offices in Frankfurt, Mannheim and Düsseldorf, branches will now be opened in Hamburg and Berlin. As a consequence, DIC ONSITE now manages the diversified property portfolio of DIC Asset AG throughout Germany directly from the geographic centres of the portfolio. At present, DIC ONSITE manages around 300 properties with a total value of €2.2 billion. In a further expansion stage, there are plans for DIC ONSITE to actively offer its services to external customers in the market from 2008 onwards.

Ulrich Höller, Chairman of the Board (CEO) of DIC Asset AG, commented: "We define asset and property management as a decisive value creating approach, which can provide a significant contribution towards a growth strategy. Consequently, it is very important for us to take into account the dynamic growth of DIC Asset and to operate in close proximity to the tenants and properties. The development of our presence throughout Germany by means of new branch offices is characteristic of this philosophy."

Marc Balkenhol, DIC ONSITE – Managing Director, commented: "The central success factor in our business is close proximity to tenants and properties. As a consequence, our competent teams are successively moving to the geographic centres of the DIC properties so as to be able to provide efficient real estate and a first-class service in close proximity to our customers."

Source: DIC

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