DIC Asset AG: Transaction volume in 2010 already stands at EUR 107 million

The group of buildings, which has a lettable area of some 7,000 sqm, is nearly fully let. The transaction was brokered by Jones Lang LaSalle. DIC Asset acquired the property in 2007 with the purchase of a portfolio.

With the sale of this property, DIC has realised EUR 107 million from property transactions since the beginning of the year. In total it has sold 25 properties offering lettable space of 56,000 sqm since the start of 2010. As a result, it has already significantly exceeded its transaction target, which was set in August 2010, of at least EUR 80 million. At the end of the first half of 2010, sales stood at EUR 36 million.

Ulrich Höller, CEO of DIC Asset AG: "This deal is a further indication of the significant firming in the investment market since the middle of the year. Following the small-volume sales of the last two years, which were forced upon us by the crisis, larger-scale transactions on reasonable terms are now possible once more."