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DIC Asset sheds €143M German commercial portfolio

DIC Asset AG sold a German commercial portfolio worth approximately €143 million to an institutional investor represented by Cording Real Estate Group GmbH.

The 100,000-square-meter portfolio comprises 10 mostly single-tenant office properties located in A- and B-class German cities such as Hamburg, Cologne, Mannheim and Erlangen, and it generates an annual rental income of roughly €11 million. The transfer of assets and related rights and obligations is scheduled to take place in the second quarter of the year.

BNP Paribas Real Estate and CMS Hasche Sigle advised DIC in the deal.