DIC Asset inks €75m worth of deals for 2 funds

German listed property firm DIC Asset has completed four acquisitions worth a total of €75 mln on behalf of two of its investment funds.

DIC's Office Balance II fund has acquired two offices in Hamburg and Berlin for a combined €44 mln. In Hamburg, the mixed Elbspeicher asset provides 10,900 m2 of space and is currently 40% leased, while the Berlin asset is fully let and provides 5,300 m2 of space.

DIC's High Street Balance fund has spent €31 mln on two retail properties in northern Germany and Offenburg.

Since 2010, Frankfurt-based DIC has launched a total of three institutional funds which have reached a total volume of €650 mln. DIC Asset owns a significant interest in the funds, acting as co-investor while also contributing property and investment expertise as service provider.