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

Press Release

DIC: Major Letting Contract for 7,400 sqm in Frankfurt’s “City West” Signed with Mainova

Frankfurt, 26.07.2012

DIC (Deutsche Immobilien Chancen) just signed a long-term letting contract with Frankfurt-based utility company Mainova over 7,400 sqm of office space in its building at Theodor-Heuss-Allee 110. As of this fall, around 300 employees of the autonomous Mainova subsidiary NRM Netzdienste Rhein-Main GmbH will work out of offices located on the ten top floors of this 18-storey office building. It is one of the largest lettings to be finalised in Frankfurt’s “City West” in the ongoing year of 2012.

Located on Theodor-Heuss-Allee, the main artery of “City West“, the office property has a letting space of 13,800 sqm. Originally built in 1973, the high-rise was substantially redeveloped and modernised between 1995 and 2000. In addition to its signature glass and metal facade, the building is characterised by optimal transportation access due to its central location and its direct proximity both to the motorway junction “Frankfurt West” (where motorways A5 and A66 intersect) and to the “Frankfurt West” railway station, providing regional and long-distance service connections. The property has been part of the DIC portfolio for a number of years. The SDAX listed company DIC Asset AG holds a 20 percent interest, as part of its co-investment segment.

The successful letting was handled by DIC Onsite, responsible for the operative real estate management. The Frankfurt branch of this in-house asset and property manager has around 60 properties under management, totalling a lettable commercial space of around 430,000 sqm.

About Mainova AG
Mainova AG is the largest utility company in the German state of Hesse. Headquartered in Frankfurt am Main, the listed company supplies around one million residents in Hesse and neighbouring states with power, natural gas, district heating, and water on a daily basis. In addition, Mainova supplies a number of corporate clients across Germany. Mainova Group employs a workforce of nearly 3,000 professionals, and generated a turnover of approximately 1.8 billion Euros in 2011. Largest shareholders of Mainova AG are Stadtwerke Frankfurt am Main Holding (75.2%) and the Munich-based holding company Thüga AG (24.5%). The remaining shares (0.3%) are held as free float.

About DIC
Formed in 1998 and seated in Frankfurt, DIC (Deutsche Immobilien Chancen), is a German real estate company active nationwide. With its innovative investment approach and its focus on the German market, it counts among the country’s leading and most successful specialists for commercial real estate transactions. Business activities include portfolio and asset management – handled by DIC Asset AG, a SDAX-listed member company – as well as project developments and joint venture investments. DIC currently holds an interest of around 40 percent in DIC Asset AG. Today, DIC Group has approximately 3.3 billion Euros worth of real assets under management. Its shareholders include equity investment companies, several insurance companies, international investors, and family offices.

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