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

Press Release

DIC Asset AG acquires Cologne headquarters of VdS Schadenverhütung

Frankfurt, 10.04.2006

Frankfurt-based DIC Asset AG has made a further addition to its investment portfolio, purchasing the headquarters of VdS Schadenverhütung GmbH in Cologne’s Amsterdamer Straße. VdS Schadenverhütung is a subsidiary of the German Insurance Association GDV and employs around 300 staff at the Cologne premises. The acquisition comprises some 7,000 sqm of office space and research facilities, part of the total site area of 17,000 sqm. The investment amount is in the region of EUR 11.5 million. The property is leased long-term to VdS Schadenverhütung.

DIC Asset’s CEO Jürgen Overath commented: “Our acquisition of the VdS headquarters represents a further step forward in our growth strategy, with the emphasis on investments in properties leased to top-quality tenants, located in regions showing strong economic growth. We view Cologne as a particularly attractive market for investment and we shall continue to expand our portfolio holdings in this area.”

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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