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DIC Asset acquires two two office properties in Frankfurt

DIC Asset AG finalised the acquisition of two office properties in Frankfurt, earmarked for its portfolio of existing real estate (Commercial Portfolio). The deal has an investment volume of approximately € 40 million. The aggregate FFO realised by these properties will add up to approximately € 0.7 million before the end of 2012, and double to approximately € 1.4 million in 2013.The deed for one of the office properties, which is located in the direct vicinity of Frankfurt’s central railway station, has just been signed. The title will most likely be transferred by the end of Q2. The investment volume equals € 17 million. The property, which has a letting space of 7,200 m², is almost fully let, and generates annual rent revenues...[…]