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

Press Release

DIC: Nintendo’s European Head Office rents Grünhof in Frankfurt

Frankfurt, 16.06.2006

The Frankfurt-based DIC Group has concluded a tenancy agreement with Nintendo of Europe GmbH for around 3,000 square meters of office space in the Grünhof which is located in close proximity to the city centre of Frankfurt. Nintendo is one of the largest global players on the computer games market, achieving worldwide sales in excess of US $ 6.5bn with its GameBoy Advance SP, Nintendo DS and GameCube consoles, as well as brand-name games such as Super Mario Bros., Legend of Zelda, PoKéMoN and Nintendogs, to name but a few. From September 2006, the Grünhof will be the new location of the central Technical and Localization Division of Nintendo of Europe. At the Frankfurt location, Nintendo will then have a staff of 250 employees. 

The DIC Property Group purchased the Grünhof property in 2004 together with the Morgan Stanley Real Estate Funds (MSREF). Through this transaction, around 85% of the Grünhof, as part of the opportunistic investments of DIC, is let, which is significantly above the business plan. Atisreal in Frankfurt brokered the tenancy agreement.

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 segments include development and opportunistic investments as well as portfolio and asset management handled by DIC Asset AG, a member of the SDAX starting 19 June 2006. 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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