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DIC Asset buys German office properties for fund

DIC Asset AG paid €30 million to acquire two office properties in Germany for its DIC Office Balance II institutional real estate fund.

The roughly 93%-occupied assets are in Dortmund and Bremen and have a lettable area of 4,800 square meters and 8,000 square meters, respectively. The Dortmund property is anchored by the Continentale BKK insurance company.

Following the acquisition, the fund comprises 13 assets and has a volume of €320 million.