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Sonja Wärntges Chief Executive Officer (CEO) and CFO. Image: DIC Asset AG

Kaiserpassage after Refurbishment Back “In the Middle of Things” – Reopening Officially in February 2019

DIC Asset AG, one of Germany’s leading listed property companies, reported that the Kaiserpassage a shopping arcade in the Bahnhofsviertel sub-district in Frankfurt am Main will reopen for business in mid-February.

Under the heading “Mitten im Leben” (which translates into “In the Middle of Things”), it was modernised in technical and functional terms and structurally altered over a two-year conversion and construction phase.

With the special character of the quarter around Kaiserstrasse duly taken into account, the arcade was re-created as a place whose broad-based retail line-up in an attractively designed ambience engages both residents and visitors of the Bahnhofsviertel area.

DIC Asset AG managed to integrate the quarter’s diversity in the revamped Kaiserpassage. To some extent, the resident retailers, such as two textiles stores, one tailor, various food stores, one gallery and a travel agency, were supplemented with the addition of a grocery store, while the existing hotel was expanded and affordable modern short-stay apartments were added. This combination created a site that effectively appeals to residents of the quarter as much as to out-of-town visitors no matter whether they use the quarter as starting point for a brief tour of the city or whether they have come for an extended stay for professional or private reasons.

To this end, DIC Asset AG invested more than EUR 20 million and successfully negotiated long-term leases with both incumbent and incoming tenants. At the moment, the building is fully occupied.

“I am pleased to report that the alteration and construction work at Kaiserpassage is nearly completed and that it will officially reopen on 13 February. It was important to us as owner of this centrally located arcade to give it an attractive and welcoming design. We see it as a part of the effort to upgrade the Bahnhofsviertel quarter while preserving its special character,” said Sonja Wärntges, CEO of DIC Asset AG.