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

Press Release

DIC Sells “MainTor Porta” to Union Investment

Frankfurt, 05.12.2013

• Purchase price for office property approx. EUR 155 million
• Renowned investment house Union Investment secures fully-let project development at an early stage
  
• Five of six sub-projects of the MainTor Quarter already sold ahead of completion

DIC just sold the “MainTor Porta” office high-rise to Union Investment Real Estate GmbH. The purchase price paid for the office project with its rental space of about 22,500 sqm approximates EUR 155 million. Since January 2013, Union Asset Management Holding AG has already rented the entire property on a long term lease.

The Hamburg-based real estate fund company Union Investment Real Estate has earmarked the property for its institutional public real estate fund “UniInstitutional European Real Estate.” The building – which is still under construction in an attractive waterfront location next to the Main River and close to the future headquarters of the European Banking Authority (in the Eurotower) - will transfer to its tenant once the latter takes occupation of the building in summer 2014. The transaction was facilitated by BNP Paribas Real Estate and Jones Lang LaSalle in an advisory and brokering role for DIC. On the legal aspects, DIC was advised by HauckSchuchardt.

By now, DIC has already sold five of altogether six sub-projects of the MainTor Quarter ahead of completion, meaning more than 60 percent of the overall projects with a total volume of approximately EUR 700 million. The buildings “MainTor Primus” (in June 2011), “MainTor Panorama” and “MainTor Patio” (both in August 2012) were previously sold, as were around 90 percent of the condominiums at the “Palazzi” building. Marketing of the last and most prominent part of construction, the central office tower “WinX – The Riverside Tower” will start at the beginning of next year. The successful marketing drive has corroborated the positioning concept as an urban quarter with premium one-off property products in a prime location inside Frankfurt's financial district. The SDAX-listed company DIC Asset AG acts as co-investor and holds a 40 percent interest in the development of the quarter.

Ulrich Höller, CEO of DIC: “We are delighted that the `MainTor Porta` project was chosen by an investment house as renowned as Union Investment. It emphasises the intrinsic value of the MainTor Quarter in its prime location as an integral part of Frankfurt's financial district.”

About the “MainTor Porta” Sub-Project
The “MainTor Porta” office building is situated in a prominent corner location including a forecourt facing Weissfrauenstrasse, and thus in a conveniently accessed location close to the Hotel Frankfurter Hof and near the metro hub Willy-Brandt-Platz as well as close to the future domicile of the European Banking Authority (EBA) inside the Eurotower. Standing 70 m tall, the building provides around 20,500 sqm of office and commercial letting space that is spread across 18 floors, plus another 1,000 sqm of basement storage space and 225 slots in an underground car park. “MainTor Porta” features an elegant cut-stone façade, a highly presentable three-floor lobby, a landscaped and accessible inner courtyard as well as several rooftop terraces commanding breathtaking views. The efficient and flexible building structure permits convenient partitioning of the floors, and would thus principally accommodate several tenants. The intention is to seek a DGNB Gold certification for the property. Built according to the plans of KSP Jürgen Engel Architekten, is has been under construction since 2012, and is slated for completion in summer 2014.

About MainTor – the Riverside Financial District
The MainTor Quarter project of Deutsche Immobilien Chancen Group is nothing less than a complete redevelopment of the area extending from Untermainkai to Weissfrauenstrasse. In the process of redeveloping the formerly enclosed brownfield compound of Degussa, the area is being restored to public use, with historic access ways from the inner city to the Main riverbank revitalised and firmly integrated into the lanes and streets of the surrounding city quarter. The construction is realised in several spatially and temporally distinct building projects, thereby ensuring the necessary flexibility to accommodate the specific requirements of each user and investor group. Architectonically speaking, MainTor Quarter will upgrade the riverbank facing Frankfurt’s CBD into a riverside financial district and thereby complete it in urban development terms. The successive construction stages will be realised incrementally in sync with the upcoming lettings and sales. The entire MainTor Quarter is scheduled to be operational by 2015/2016.

Time Line

• 2005: DIC acquires the former Degussa compound
• 2007: The master plan for the MainTor Quarter is created (by the architectural firm of KSP Jürgen Engel)
• December 2009: Architectural competition for the design of the central high-rises WinX (Engel) and Panorama (Prof. Mäckler) concluded
• 2010: Effective local development plan is finalised
• January 2011: Evonik (formerly Degussa) moves out
• June - October 2011: Anniversary show of the MMK Museum of Modern Art in Frankfurt with more than 100,000 visitors
• June 2011: “MainTor Primus” building complex sold to Professor Carlo Giersch. “Primus” will become the future headquarters of DIC Group.
• August 2011: Demolition work started
• November 2011: Construction work started on “MainTor Primus”
• January 2012: Major letting contract over 14,000 sqm is signed with Union Investment
• July 2012: “MainTor Panorama” and “MainTor Patio” sold to the Ärzteversorgung Westfalen-Lippe pension fund for EUR 150 million
• 29 August 2012: Foundation stone laid for “MainTor Porta”
• December 2012: Marketing kicked off for the condominiums at “MainTor Palazzi”
• January 2013:
  • Major letting contract for 9,000 sqm at “MainTor Panorama” signed with CMS Hasche Sigle
  • Major letting contract for 8,000 sqm at “MainTor Porta” is signed with Union Investment
• December 2013: “MainTor Porta” building complex sold to Union Investment Real Estate

About DIC
DIC (Deutsche Immobilien Chancen), active throughout Germany and based in Frankfurt, was founded 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 specialising in commercial real estate transactions. Its business activities include portfolio and asset management, which are handled by its SDAX-listed company, DIC Asset AG, as well as project developments and joint venture investments. It currently holds approximately 33 per cent of DIC Asset AG. The real estate assets managed by the DIC Group currently amount to around EUR 3.2 billion. Its shareholders are investment companies, several insurance companies, international investors and family offices.

For more information about DIC, please visit us on the Internet at www.dic-ag.de. For details on the MainTor Quarter project, please go to www.maintor-frankfurt.de.

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