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

Press Release

DIC and Morgan Stanley purchase property from the FALK-Fonds 80

Frankfurt, 17.08.2006

A consortium of MSREF (Morgan Stanley Real Estate Funds) and the Frankfurt property investor DIC (Deutsche Immobilien Chancen) has purchased all six estates of the Falk-Fonds 80 as part of an asset deal. The holdings consist of office and service industry properties in München, Heilbronn, Würzburg, Nürnberg and Mainz with a total usable area of around 105,000 sqm. The individual properties are let long-term to impeccable tenants such as Siemens, BMW or Telekom. The total volume of investments is around 160 million euro. The stock exchange listed DIC Asset AG has a 20% share in the transaction. 

Falk-Fonds 80 is one of the closed-end funds of Falk Capital, which is not insolvent. The properties have an outstanding rating and are virtually 100% let.

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. The real estate assets managed by the DIC real estate group currently amount to over EUR 1.3 billion. Its shareholders are investment companies, institutional investors (such as Morgan Stanley) and private investors with a family background in industry.


About Morgan Stanley
Morgan Stanley Real Estate consists of thee major trading divisions worldwide: Investment, banking and lending. Since 1991, Morgan Stanley has purchased property worldwide valued at USD 87.7 billion and currently administers properties worth around USD 50.9 billion on behalf of its clients. In addition, Morgan Stanley Real Estate offers its clients a comprehensive range of market-leading investment banking services, including strategy advice, mergers and acquisitions as well as restructuring and the taking over of internal and outside capital finance. Morgan Stanley is also a leading global company in the property letting sector and in 2006 generated internally financed commercial mortgages in excess of USD 26 billion.

For further information about Morgan Stanley Real Estate, go to www.morganstanley.com/realestate

Morgan Stanley (NYSE: MS) is a financial services company that is active worldwide and is one of the market leaders in the securities, investment management and credit services sectors. With over 600 offices in 30 countries, Morgan Stanley combines people, ideas and capital so as to assist clients in achieving their financial objectives.

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