DIC Asset AG has completed three acquisitions with a total volume of €57 mln on behalf of the company's three investment funds. As a result, the investment volume climbed to approximately €710 mln. The company seeks to achieve an acquisition volume between €130-150 mln by the end of 2015.
For the fund ‘DIC Office Balance I’, approximately €27 mln were spent on an office property in Bonn. The multi-tenant asset, which was raised in 1994 and features modern office accommodation, is located close to the town centre and has convenient motorway access. Around 90% of the floor area of roughly 10,000 m² is currently let to five high-net-worth companies.
This latest acquisition concludes the fund's investment period. Since it was launched, the fund has doubled in volume and now totals approximately €420 mln.
For the fund ‘DIC Office Balance II’, an office property in downtown Düsseldorf was purchased for approximately €15 mln. The almost fully occupied mixed office-commercial building with a lettable area of around 5,200 m² has been listed for three decades, and was completely overhauled – from the façade to the mechanical and electrical services – in 2012/2013 in an effort to bring it up to the latest standards in terms of office equipment and energy efficiency.
For the fund ‘DIC HighStreet Balance’, a commercial building in the prime high street pitch of Saarbrücken was acquired for approximately €15 mln. The property has a lettable area of around 1,700 m², a frontage length of 13 m, a modern façade structure, and is highly visible. It was raised as a retail building in 2006, and is characterised by a modern retail floor plan. It is fully occupied by the apparel manufacturer ESPRIT on a long-term lease.
The company was advised on these transactions by the estate agencies Rheinwert and Comfort Düsseldorf, among others.
Source: DIC Asset AG
