DGAP-News: Own DIC portfolio grows to around EUR 4.5 billion | News

DGAP-News: DIC Asset AG / Keywords: Real estate

DIC’s own portfolio grows to around EUR 4.5 billion

05/25/2022 / 13:33
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press release

DIC’s own portfolio grows to around EUR 4.5 billion

  • After updating the initial valuation of the logistics portfolio by VIB, the value of its own DIC portfolio increases to approx. EUR 4.5 billion
  • A leading player in Germany is formed with a clear focus on logistics and offices
  • Logistics becomes the largest asset class in the company’s portfolio
  • The assets under management therefore amount to approximately EUR 13.8 billion

Frankfurt am Main, May 25, 2022 DIC Asset AG (DIC), ISIN: E000A1X3XX4, is successfully implementing a growth strategy in the logistics sector. Since the strategic decision made in summer 2020 to focus on the asset class of its investment strategy, DIC has achieved many milestones. With the completion of the 60% majority acquisition of VIB Vermögen AG (VIB), the leading German player in the logistics and office real estate market is emerging. The logistics real estate market has developed very strongly in recent months and has been characterized by sustained high demand and high trading volumes. Based on this market environment, VIB commissioned a renowned, internationally operating appraiser to revalue its portfolio and announced today that, according to the preliminary valuation, the market value is likely to rise to EUR 2.3 billion. This brings the value of DIC’s own shares to around EUR 4.5 billion after the full consolidation of VIB from April 1, 2022. The value of assets under management has reached its previous high of approximately EUR 13.8 billion.

“With the acquisition of a majority stake in VIB Vermögen AG, we have taken an important strategic growth step. Given the preliminary valuation announced today, we are now looking at a well-structured, balanced and diversified consolidated DIC balance sheet portfolio of around 4.5 billion euros with a clear focus on logistics and office We are perfectly positioned to continue creating value for our stakeholders in the future, comments Sonja Wärntges , CEO of DIC.

In recent months, DIC has built up a majority stake in VIB through a partial purchase bid and other bilateral purchases. This results in a weighted purchase price of EUR 51.08 per VIB share and a total purchase price of approximately EUR 850 million, which is fully covered by the value of the VIB property.

The initial market value of the VIB portfolio announced today represents an attractive return of around 4% with an annual rental income of approximately EUR 92 million as of March 31, 2022. From a DIC perspective, the external evaluation results confirm the high quality of the VIB portfolio and the purchase price paid. The logistics asset class currently accounts for the largest share of DIC’s own portfolio (commercial portfolio).

About DIC Asset AG:

DIC Asset AG is a leading German listed office and logistics specialist with over 20 years of experience in the real estate market and access to a wide network of investors. Our foundation is a national and regional real estate platform with nine locations in all important German markets (including VIB Vermögen AG). Pro forma we manage 349 properties on site with a market value of EUR 13.8 billion. We are present on site, always close to the tenant and the property.

The Commercial Portfolio segment includes properties from the company’s own portfolio. Here we generate continuous cash flow from stable long-term rental income, we also optimize the value of our portfolio properties through active management and realize profits through sales.

In the Institutional Business segment, we generate ongoing fees on structuring and managing investment vehicles with attractive dividend rates by offering our real estate services to domestic and international institutional investors.

DIC Asset AG has been listed on the SDAX since June 2006.

Contact with the IR / PR department of DIC Asset AG:
Peer Schlinkman
Manager of Investor Relations and Corporate Communication
Neue Mainzer Strasse 20 MainTor Primus
60311 Frankfurt am Main
Telephone +49 69 9454858-1492
ir@dic-asset.de

25.05.2022 Publication of Corporate News / Financial News broadcast by DGAP – EQS Group AG website.
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