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

Press Release

DIC and MSREF acquire real-estate portfolio from Hochtief

Frankfurt, 29.05.2006

The Frankfurt-based real-estate investment company DIC (Deutsche Immobilien Chancen) has now acquired 10 commercial properties with a total floor space of 80,000 qm in equal shares of half each from Hochtief and its subsidiary DeBauSie. This acquisition was made together with the Morgan Stanley Real Estate Fund (MSREF). Located throughout Germany, the properties are used predominantly as offices and business premises, and are currently held by various companies of the Hochtief Group. The properties are situated in excellent inner-city locations and are leased on long-term leases to prime tenants such as Fujitsu-SIEMENS, REWE, Möwenpick or HuK Coburg. The investment volume is around 135 million euros. The portfolio includes such well known properties such as the Entree Office Centre on the main square in Bad Homburg, the Forum am Anger in Erfurt and the X-Act office building in Düsseldorf.

Ulrich Höller, CEO of DIC, commented: “This acquisition extends the “Opportunistic Investments” business segment by an interesting real-estate portfolio with attractive value growth potential. We will successively realize this potential in the next few years by means of active portfolio and asset management. There will be two central objectives here: modernization measures in order to increase the utilization efficiency of the properties - particularly with respect to the technical infrastructure - as well as restructuring measures designed to open up new utilization opportunities.”

About DIC
DIC (Deutsche Immobilien Chancen) was founded in Frankfurt in 1998 and, with its innovative investment philosophy and its focus on the German market, is one of the most prominent and successful firms in Germany specializing in commercial real estate transactions. Its business activities include portfolio and asset management, project development and opportunistic investments. The real estate assets managed by the DIC real estate group currently amount to over EUR 1.2 billion. Its shareholders are investment companies, institutional investors (such as Morgan Stanley) and private investors with a family background in industry.

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