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

Press Release

DIC Asset AG acquires property in Hannover and Nürnberg from Vivico

Frankfurt, 23.05.2006

The Frankfurt-based real-estate investment company DIC Asset AG has now acquired two office properties in Hannover and Nürnberg with a total floor space of around 47,000 sqm from Vivico Real Estate GmbH in Frankfurt. The properties are leased to Deutsche Bahn AG on a long-term basis and are located in the direct proximity of the respective main railway stations. The seller will still perform extensive renovation and modernisation work. This work will be completed in the second half of 2006 in Hannover and in the second half of 2007 in Nürnberg. The investment volume is around 55 million euro.

About DIC Asset AG
Established in 2002, DIC Asset AG with registered offices in Frankfurt is a real estate company having a dedicated investment focus on commercial real estate in Germany and pursuing a return-oriented investment policy. DIC Asset AG’s real estate portfolio currently includes just under 270,000 qm of floor space, spread over 127 properties. The company’s real estate portfolio is divided into three segments: the Core portfolio includes real estate assets held on a long-term basis and offering stable, attractive rental yields. The Value-added portfolio contains real estate with an attractive value-enhancement potential over the medium term. The Opportunistic Co-Investments portfolio is comprised of participations in real estate investments having a more pronounced risk/return profile; the underlying assets will be sold following a repositioning under specific business plan. The real estate portfolio currently being managed totals approx. EUR 780 million and includes properties such as the ebay headquarters, the Pfleiderer AG head office, the real estate portfolio of Frankfurter Sparkasse (the Frankfurt savings bank) as well as an interest in a highly diversified portfolio across Germany, which was acquired from MEAG in late 2005 together with the Morgan Stanley Real Estate Funds (MSREF).

About Vivico Real Estate GmbH:
Vivico Real Estate GmbH is a federally-owned real-estate company with a portfolio of around 8.3 million square metres. It is owned jointly by the Bundeseisenbahnvermögen (Federal Railway Asset Management Authority) with a share of 94.99% and the Federal Ministry of Transport, Building and Urban Affairs with a share of 5.01%. It is therefore not a subsidiary of Deutsche Bahn AG. It was established in 2001 in order to sell a real-estate portfolio with maximum revenue by means of privatisation. Instead of selling individual real-estate assets, revenue is generated by establishing a going concern value and subsequent privatisation.
Vivico employs a staff of 140 and has its head office in Frankfurt. Regional offices are located in Berlin, Frankfurt am Main, Cologne and Munich. The services provided by Vivico extend from project development to property management. Vivico owns spacious development areas in inner-city locations, for example the Arnulfpark in Munich or the Europaviertel in Frankfurt. The portfolio also includes buildings such as the historical Römischer Hof in Berlin and the RheinTriadem in Cologne, which is currently under construction.

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