DGAP-News: DIC Asset AG: tenancy agreement for 20,400 sqm extended with Galeria Kaufhof
(firmenpresse) - DGAP-News: DIC Asset AG / Key word(s): Miscellaneous
DIC Asset AG: tenancy agreement for 20,400 sqm extended with Galeria
Kaufhof
22.06.2011 / 07:31
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DIC Asset AG: tenancy agreement for 20,400 sqm extended with Galeria
Kaufhof
DIC Asset AG (WKN 509840 / ISIN DE0005098404) has successfully extended its
existing tenancy agreement with Galeria Kaufhof GmbH for approximately
20,400 sqm in Leverkusen (Wiesdorfer Platz 82). Galeria Kaufhof, which
enjoys a good location in Leverkusen's pedestrianised area, will remain
there for a further ten years.
Securing this extension means that the property continues to be fully let.
The average lease term in the property has now risen from around 1.5 years
to currently around 10.5 years. The new tenancy agreement does not oblige
DIC Asset AG to make additional investment in the property, thus securing
the rental income for DIC Asset AG for the long term.
In addition to the two properties in Chemnitz and Bremen acquired towards
the end of the first quarter, which are also leased long-term to Galeria
Kaufhof, DIC Asset AG has further improved the quality of its structure in
the Retail tenant segment.
The department store is located in Leverkusen's busiest pedestrianised area
and boasts good public transport links and car parks in the immediate
vicinity. Leverkusen's city centre is currently being made even more
attractive to retailers, meaning that the property will continue to offer
outstanding potential for retail use in the future.
DIC took over the three-storey property in 2007 as part of its acquisition
of the Odin portfolio. The building comprises some 13,000 sqm of retail
space and about 7,400 sqm of office and storage space. DIC Onsite, which is
responsible for operational real estate management, manages 63 properties
throughout North Rhine-Westphalia with a total commercial rental space of
some 480,000 m²and a total value of around EUR 810 million.
Further information about DIC Asset AG is available online at
www.dic-asset.de.
About DIC Asset AG:
Established in 2002, DIC Asset AG, with its registered office in Frankfurt
am Main, is a real estate company with a dedicated investment focus on
investing in commercial real estate in Germany, pursuing a return-oriented
investment policy. The real estate portfolio amounts to approximately EUR
3.2 billion with around 290 properties. The portfolio is divided into three
segments. The Core plus portfolio includes the proprietary portfolio held
on a long-term basis and offering stable, attractive rental yields. The
Value-Added portfolio contains real estate with promising performance
potential over the medium term; while the Co-Investments portfolio
comprises minority investments in other real estate segments. This includes
opportunistic investments, development projects as well as the Funds
business segment, where the company invests in first-class core properties.
DIC Asset AG has been listed on the SDAX index since June 2006 and is
represented in the international EPRA Index of the leading real estate
companies in Europe.
End of Corporate News
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22.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt
Deutschland
Phone: +49 69 9454858-0
Fax: +49 69 9454858-99
E-mail: info(at)dic-asset.de
Internet: www.dic-asset.de
ISIN: DE0005098404
WKN: 509840
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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129362 22.06.2011
Datum: 22.06.2011 - 07:31 Uhr
Sprache: Deutsch
News-ID 34442
Anzahl Zeichen: 0
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Kategorie:
Business News
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