DIC buys “Falkenbrunnen” in Dresden – FFO grows by a quarter
DIC Asset has acquired three properties this year to date for a total of around €92mn. The commercial real estate company acquired the “Falkenbrunnen” office property, located on Chemnitzer Straße 46 in Dresden, for its “DIC Office Balance V” fund. The property is primarily let to the University of Dresden. Total investment costs amounted to €19.5mn. For its own Commercial Portfolio, DIC invested just over €58mn in an unspecified property in Duisburg, and €14.7mn in total costs for a building in the Bremen Technology Park, as had been reported in January. FFO growth of 25% to €17mn was recorded in the 1st quarter. Fund income saw a 27% increase to €11.2mn. The company has received €376mn from the sale of its TLG shares, which amounted to around 14% of that company’s share capital. DIC will now invest this money in its own business.
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