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

Press Release

DIC Lets around 3,000 sqm at “Opera Offices Neo”

Frankfurt, 03.11.2014

DIC just let around 3,000 sqm of lettable area at the “Opera Offices Neo” office and retail building in Hamburg (Grosse Theaterstrasse 31-35) on a long-term lease. First tenant of the project development is IMMAC Holding AG, a company specialised in social real estate that will occupy the floors five to seven. Thus, more than one third of the lettable area is already let, only shortly after the project was sold to an institutional investor by means of a forward deal (in late August 2014). Letting is being arranged via DIC’s Hamburg branch.

Construction of the “Opera Offices Neo” scheme in its central location in downtown Hamburg is scheduled to start in the coming weeks, and to be completed sometime after mid-2016. Designed by Störmer Murphy and Partners, the new seven-storey “Opera Offices Neo” building will provide around 1,000 sqm of storefront area for retail or gastronomy use on the ground floor, whereas the six upper floors will deliver around 1,100 sqm of lettable area each, and the loft floor of 500 sqm of office space includes a spacious rooftop patio. Future occupiers will benefit from the flexible layout of the floorplate, low energy costs, and a modern fit-out, as well as from the integrated underground car park of around 35 parking spaces. It is intended to seek a DGNB “Silver” green building certification for the property.

The SDAX-listed company DIC Asset AG acts as co-investor and holds a 20 per cent interest in the project development.

For details on the “Opera Offices” project, please go to www.opera-offices.de.

About DIC
DIC (Deutsche Immobilien Chancen), active throughout Germany and based in Frankfurt, was founded in 1998 and, with its 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 investments managed by the DIC Group currently amount to approximately EUR 3.8 billion. Its shareholders are investment companies, several insurance companies, international investors and family offices.

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