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

Press Release

MainTor – Next Major Letting Contract: WINX already Prelet to 60 Percent prior to Start of Construction Work

Frankfurt, 20.11.2014

• DIC lets 24,000 sqm at the WINX Tower to Union Investment on long-term lease
  
• In parallel, DIC acquires the “Blue Tower” from DZ BANK
  

With the construction of “WINX - The Riverside Tower” yet to start, DIC already prelet around 24,000 sqm of lettable area at the building, which is part of the MainTor quarter. The tenant is Union Asset Management Holding AG (“Union Investment”). The company rented for an initial period of ten years the tower's 12 bottom floors as well as the portal building with its spectacular glazed lobby 11 metres tall. This means that nearly 60 per cent of the WINX office accommodation has already been marketed. The WINX Tower will have altogether 29 storeys. Construction of the WINX Tower is scheduled to start at the beginning of 2015, and is planned to be completed before year-end 2017. Built according to the plans of the architectural firm KSP Jürgen Engel, the development will add another conspicuous landmark building to Frankfurt's skyline.

The SDAX-listed company DIC Asset AG acts as co-investor and holds a 40 per cent interest in the property development. The letting transaction was facilitated by the estate agencies BNP Paribas Real Estate and Jones Lang LaSalle, while legal counsel was provided by the law firms HauckSchuchardt and Jones Day.

Two years ago, Union Investment already rented the “MainTor Porta” building with its entire 22,000 sqm. MainTor Porta will be handed over around the turn of the year (2014/15), and thereafter be occupied by Union Investment.

Dr. Andreas Zubrod, CFO of Union Asset Management Holding AG: “The MainTor as new urban quarter within the financial district is an outstanding and highly attractive location for our staff. We will be able to merge a substantial share of our organisational entities in this building, and thereby optimise the efficiency of our company's internal cooperation.”

Ulrich Höller, CEO of DIC: “This extraordinary marketing success is another significant affirmation of the MainTor development. The WINX Tower is like a keystone completing the MainTor Quarter. Forming its geographic centre, it will have special appeal for local residents and visitors, together with the MainTor Plaza and its gastronomic concept.”

DIC Acquires “Blue Landmark” from DZ BANK

At the same time, DIC acquired the so-called “Blue Tower” from DZ BANK (Wiesenhütten¬strasse 10 in Frankfurt), which has a total office floor area of around 19,000 sqm. Following the expiration of the leases of the incumbent tenants by mid-2018, DIC is planning a comprehensive redevelopment of the landmark building in order to hone it for a new role and use. Financing partner is Deutsche Hypo. Law firm bhp - Bögner Hensel & Partner acted as counsel for DIC, DZ BANK has been accompanied by Kraus, Sienz & Partner.

Ulrich Höller, CEO of DIC: “With the acquisition of this landmark building, which has been well established in Frankfurt for several decades, DIC is taking over an attractive rented property with extraordinary property development potential going forward.”

About the “Blue Tower”
The so-called “Blauer Turm” (“Blue Tower”) was raised on a plot area of more than 4,000 sqm in 1978 according to the plans of the architects Albert Friedrich Speer jun. and Diedrich Präckel. The 93-metre tower with its 19 floors is supplemented by a low-rise annex and a three-storey underground car park. The building was originally commissioned by DG-Bank. In 1999, the building was completely refurbished and revitalised.

About Union Investment
Union Investment Group is one of the largest German asset managers for private and institutional clients, and the asset management competence centre for the FinanzGruppe cooperative financial services network. It has a big footprint on the international financial markets through subsidiaries and branch offices as well as through strategic collaborations with institutional partners. Its retail funds are licensed for sale in Germany and many other countries in Europe. Around 4 million customers have invested their wealth in UnionDepot, and are benefiting from the Group's extensive investment fund services.

For more details on Union Investment, please check the internet at www.union-investment.de

About DIC
DIC (Deutsche Immobilien Chancen), a company 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.

Chronology – The Key Miles Stones and Marketing Steps:

• 2005: DIC acquires the former Degussa compound
• 2007: Master plan for the MainTor Quarter (by the architectural firm KSP Jürgen Engel Architekten)
• December 2009: Architectural competition for the design of the central high-rises WINX (Jürgen Engel) and Panorama (Prof. Christoph Mäckler)
• 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 draws more than 100,000 visitors
• June 2011: “MainTor Primus” building complex sold to Professor Carlo Giersch.
• August 2011: Demolition work started
• January 2012: Major letting contract over 14,000 sqm at “MainTor Porta” is signed with Union Investment
• July 2012: “MainTor Panorama” and “MainTor Patio” sold to the Ärzteversorgung Westfalen-Lippe pension fund for approx. 150 million euros (in a forward deal)
• 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” signed with Union Investment
• December 2013: “MainTor Porta” sold to a fund managed by Union Investment Real Estate for approx. 155 million euros
• January 2014: Marketing for the “WINX Tower” including portal building kicked off
• April 2014: DIC relocated its headquarters into the "MainTor Primus" complex
• November 2014: Marketing for rental flats at “MainTor Patio” launched
• November 2014: 60 percent of the WINX Tower prelet to Union Investment
  

For more details about the MainTor project, please go to www.maintor-frankfurt.de.

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