The DIC Group is one of the leading investors in the German market for commercial real estate

Press Release

DIC sells C&A portfolio to Dawnay Day

Frankfurt, 13.04.2006

Frankfurt-based DIC Asset AG (Deutsche Immobilien Chancen) has sold its C&A portfolio of eight retail stores to the London financial investor Dawnay Day for just under EUR 42 million. Structured as a forward deal, the transfer of ownership will take effect at the end of 2006.
DIC Asset purchased the C&A portfolio in 2002. The portfolio consists of stores in Elmshorn, Herne, Ludwigshafen, Moers, Neunkirchen/Saar, Neuss, Offenbach and Schweinfurth; the C&A store in Euskirchen was sold in 2004. The properties, with a total net floor space of 46,000 sqm, are all leased to C&A.

About DIC Asset AG
Established in Frankfurt in 2002, DIC Asset AG is a real estate company investing exclusively in commercial properties in Germany on the principle of a yield-led investment strategy. DIC Asset AG’s property portfolio currently comprises a total of just under 270,000 sqm floor space in 127 properties. The real estate portfolio is split into three segments: the Core Portfolio contains the longer-term asset holdings with stable, attractive rental yields; the Value-added Portfolio comprises properties with interesting potential for value gains with a medium-term investment horizon; Opportunistic Co-investments is the portfolio in which property investments with a higher risk/return profile are held, where tailor-made business plans can enable the properties to be repositioned in the market and subsequently re-sold. The real estate holdings under management currently amount to some EUR 780 million. The properties include eBay’s German headquarters, the head office of Pfleiderer AG, the property portfolio of Frankfurter Sparkasse and a participation in a diversified portfolio of German properties acquired from MEAG at the end of 2005 jointly with Morgan Stanley Real Estate Funds (MSREF).

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