Frankfurt-based DIC Asset said it had successfully placed five commercial properties from its 'Value-Added' and 'Opportunistic Co-Investments' segments, the total volume of which is around EUR 22mln, with various investors according to a statement released by the company on Thursday. The company said the properties, which are located in Frankfurt, Hamburg, Cologne and Nuremberg, were primarily sold in the private sector.
Frankfurt-based DIC Asset said it had successfully placed five commercial properties from its 'Value-Added' and 'Opportunistic Co-Investments' segments, the total volume of which is around EUR 22mln, with various investors according to a statement released by the company on Thursday. The company said the properties, which are located in Frankfurt, Hamburg, Cologne and Nuremberg, were primarily sold in the private sector.
The company also said it has syndicated parts of its shareholdings in the MainTor new city quarter development and - together with its investor Deutsche Immobilien Chancen - has added further finance partners to the project. The statement noted 'this will allow the company to realise an initial part from the project development, while at the same time giving it a broader positioning with respect to the financing structure of this major project.' The construction is due to commence in spring 2009.
On the letting side, the company announced that it had leased some 105,000 m2 in the first half year 2008 and would provide further details in its half-yearly report in August. The statement said 'these excellent results are partly a result of the company's focus on its asset and property management activities in view of the currently strong rental markets.'
