- May 1, 2011: Vol. 5, Number 5

To read this full article you need to be subscribed to Institutional Real Estate Europe

DIC Purchases German Retail Assets


DIC Asset AG has acquired two retail properties in Germany that are let to Galeria Kaufhof from a joint venture controlled by affiliates of AREA Property Partners and Rida Development Corp for €108 million. The properties are in city centre locations in Bremen and Chemnitz and total 49,000 square metres, with an annual rental income of approximately €7.3 million.

“This transaction marks the first of a series of steps for achieving growth. With this purchase, we are strengthening our FFO [funds from operations] with two fully leased properties with high quality, a secure long-term cashflow and an above-average rental yield,” comments Ulrich Höller, CEO of DIC Asset.


Forgot your username or password?