DIC Asset buys properties in Berlin and Bremen for €142mn

09/08/2019

DIC Asset has acquired properties in Berlin and Bremen for €142mn. In Berlin, the Frankfurt-based company paid €111mn for the “Safe” office building at Taubenstraße 7-9 in the city’s Mitte district.  The building has 10,100 sqm of lettable space; DKB is the main tenant. The seller is Real I.S; CBRE brokered the sale. The building is located near Friedrichstraße, its WALT is 5.1 years. The property expected to bring around €3 million annually to DIC Asset’s FFO. The transfer of ownership is scheduled for December. DIC also purchased the buildings Am Wall 117-125 (12,200 sqm) and Am Brill 18 (5,000 sqm) in Bremen for its “Office Balance” spezialfonds, launched in 2018. TD has learned from market insiders that the seller is Basler Versicherung, which had its branch office at these addresses. The purchase price is €31mn; Colliers brokered the sale. The first property is 80% let to tenants from the insurance and logistics sectors; the second is largely vacant since Basler moved its branch office, and will be repositioned.


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