DIC Asset: Three deals in December, acquisitions worth €510mn for the year

08/01/2019

DIC Asset acquired three properties for a total of roughly €100mn before the end of the year. For all of 2018, the firm’s purchase volume added up to about €510mn. This exceeds the target range of €450mn to €500mn, the company states. Added to that was an office property in Karlsruhe with about 10,700 sqm lettable space in December. The seller Art-Invest had purchased the building vacant in early 2018, then modernized and fully leased it. In addition, the Spezialfonds DIC Office Balance V took over an office building with 8,400 sqm in Eschborn-Süd for a purchase price of €25.8mn. Main tenants are Regus and Aurelis. Further, the retail fund DIC Retail Balance bought a retail park in Cloppenburg with Kaufland as an anchor tenant for €25.2mn. This center with about 6,700 sqm was finished in late 2017. Over the course of the year, three properties were sold in Magdeburg, Korntal-Münchingen, and Frankfurt for roughly €100mn.


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