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

Press Release

DIC Asset AG purchases Ruhr Portfolio with 15 properties

Frankfurt, 26.06.2006

The Frankfurt-based property investor DIC Asset AG has now acquired a portfolio of 15 properties from Häusser-Bau in Bochum with a total usable area of around 95,000 sqm. The total investment volume is around 123 million euro. The Ruhr Portfolio primarily consists of office and retail trading properties, which are almost exclusively within the Ruhr region, with several properties located in Bochum. The real estate consultancy group Brockhoff & Partner, Essen, acted as adviser for the transaction.

The properties are in good inner-city locations and around 90% of them are let. The best known properties are the Stadtbadgalerie in Bochum's inner-city and the civic center Gelsenkirchen.

The majority of the long-term leases ensure a solid cash flow base for DIC Asset AG. Attractive value-added potentials can be achieved on several properties through restructuring and re-lettings.

Ulrich Höller, Chairman of the Board of DIC Asset AG: “We are continuing our solid expansion policy with this acquisition. The individual properties are included both in our Core as well as in our Value-Added portfolio segment; in the latter we manage properties with an interesting value-added potential and medium-term investment focus.”

About DIC Asset AG
DIC Asset AG with its registered office in Frankfurt am Main, was established in 2002 and is a property investor listed in SDAX with an exclusive investment focus on commercial properties in Germany and a profit orientated investment policy. investment focus on commercial real estate in Germany, pursuing a return-oriented investment policy. DIC Asset AG's real estate portfolio currently includes just under 280,000 sqm of floor space, spread over 126 properties. The portfolio is divided into three segments: the Core portfolio includes the proprietary portfolio held on a long-term basis and offering stable, attractive rental yields; the Value-Added portfolio contains real estate with a promising performance potential over the medium term, while the Opportunistic Co-Investments portfolio is comprised of real estate investments having a more pronounced risk/return profile, which will be placed with third parties following a repositioning under an individual business plan. The real estate portfolio currently being managed totals approx. Euro 790 million and includes properties such as eBay's headquarters in Germany, the Pfleiderer AG head office, and the real estate portfolio of Frankfurter Sparkasse (the Frankfurt savings bank). Furthermore, it also holds an interest in a highly diversified portfolio spread across Germany, acquired from MEAG in late 2005 together with Morgan Stanley Real Estate Funds (MSREF).

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