German office and logistics real estate investor DIC Asset has invested €99m to increase its majority interest in VIB Vermögen to 68%.

The SDAX-listed company said following the stake increase, VIB will now act as the logistics real estate arm of the DIC Asset Group.

The capital from DIC Asset will be used to acquire logistics real estate portfolio worth €56m and of two property management companies worth €43m whose business is the management of logistics real estate on behalf of third parties.

Sonja Wärntges, the CEO of DIC Asset, said: “It is an important step for the future of the DIC Asset Group. We will integrate VIB even more deeply in our company, and will clearly increase the tailwind for our commitment in this important asset class of logistics real estate.

“Especially in times like these, we are demonstrating through clear-cut strategic decisions that we are shaping the future and creating value for all of our stakeholders,” stated Sonja Wärntges, CEO of DIC Asset.”

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