DIC Asset AG has acquired two office properties in Dortmund and Bremen for its “DIC Office Balance II” institutional real estate fund for a combined total of c.€30m. Both assets are multi-tenant properties centrally located in their respective cities.
The lettable area of the property in Dortmund, which is located on Königswall across from the central railway station, totals around 4,800 m². One of its anchor tenants is the Continentale BKK insurance company. The building on Bahnhofstrasse in downtown Bremen comprises a lettable area of around 8,000 m². Both properties show an occupancy of around 93%.
“The properties in Dortmund and Bremen are an excellent portfolio addition to the Office Balance II. We see potential in both properties, and will use our in-house asset- and property management platform to improve their performance in a sustainable manner, and thereby to generate the highest possible returns for our investors,” said Sonja Wärntges, CEO of DIC Asset AG.
By purchasing its twelfth and thirteenth assets, the DIC Office Balance II, which is backed by an equity volume of c. €200m, just expanded its fund volume to c.€320m.
PwC and Graf von Westphalen, as well as JLL and Noerr LLP, acted in an advisory role.
