DIC Asset Aktiengesellschaft · Real estate company

DIC Asset
DIC Asset

Commercial Portfolio

Commercial Portfolio

Gathered in our Commercial Portfolio is the real estate that we manage as owners and property asset holders across Germany. They represent predominantly commercial properties in major cities and regional economic centres, the focus being on office use.

The 114 assets currently in our proprietary portfolio generate stable rent revenues from attractive long-term lease agreements. The rent revenues are broadly diversified by region, sector and tenant. These revenues are supplemented by temporary rental income from assets we acquire early on for the start-up portfolios of new investment funds, and that we keep in the Commercial Portfolio for a transition period under our so-called “warehousing” concept. The gross rental return of our real estate portfolio currently equals 6.3%.

Moreover, we optimise our portfolio properties through active letting management, refurbishments and repositioning, thereby generating profits from property disposals out of the Commercial Portfolio in addition to the rent revenues.

As of the key date of 30 September 2017, the real estate assets held in the Commercial Portfolio added up to c. 1.5 billion euros.

Commercial Portfolio overview by regions
(as at 30.09.2017)

North East Central West South total
Number of properties 13 13 25 34 29 114
Market value in EUR million * 195.5 217.2 444.3 491.4 183.5 1,531.9
Portfolio proportion by market value 13% 14% 29% 32% 12% 100%
Rental space in sqm ** 140.9 139.0 205.0 306.9 137.8 929.6
Annualised rental income 12.5 14.9 26.2 29.7 12.8 96.1
WALT (years) 7.2 3.9 4.6 4.1 3.1 4.5
Vacancy rate 8.8% 6.9% 15.7% 15.3% 8.3% 12.1%
Gross rental yield 6.4% 6.9% 6.1% 6.0% 7.0% 6.3%

* Market value as at 31.12.2016, later acquisitions considered at cost
** excluding developments and repositioning properties

Tenant structure
(by annualised rental income, as at 30.09.2017)

tenant structure

Type of use
(by annualised rental income, as at 30.09.2017)

Type of use

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