DIC issues office Spezialfonds and posts operating growth in Q1
DIC Asset issued a new Spezialfonds “DIC Office Balance IV” in the first quarter. The target volume is between €300 and €350mn. An initial portfolio with office properties in Germany with a volume of approx. €105mn was acquired at the beginning of the year. In addition, the office building Brixx (Voltastraße) in Frankfurt was acquired for the predecessor fund “DIC Office Balance III”. This property with approx. 5,800 sqm belonged to Westinvest Interselect and had a market value of approx. €14mn in last September. The “DIC Office Balance III” is now placed with eleven properties and a portfolio volume of €327mn a year after it was issued. The FFO of DIC AG increased to €15.8mn in Q1 (Q1 2016: €14.5mn). The Group result decreased mainly due to sales profits declining from €11.8 to €7.6mn.
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