Key events and dates for Hamburg-based Union Investment Real Estate AG (formerly DIFA) and its open-ended real estate funds.
01.04.2007
DIFA funds are renamed and carry their respective regional main investment objective now in the name. The DIFA -Fond No. 1 is called UniImmo: Germany, the DIFA GRUND UniImmo: Europe, the DIFA Global UniImmo: Global, and the DIFA ImmoInvest is renamed in ImmoInvest:Europe.
January 2007
As the first german property fund, DIFA Global invests in South America. In Santiago de Chile the fund acquires the 16-storied office tower Birmann 24.
15.January.2007
DIFA AG signs in Union Investment Real Estate AG.
25.09.2006
Brand admission in Asia: DIFA purchases the Mobile Telekom Centre in Seoul /Südkorea
16.September.2005
DIFA Global exceeds the 1 billion euro fund's assets
April 2005
DIFA-Global invests in Latin America.
17. January 2005
DIFA Global exceeds the 500 Milionen euro fund's assets.
12.January 2005
Strategic admission to the Central European market: DIFA purchases an extensive portfolio participation in Hungary and Czechia.
1. May 2004
The CityQuartier DomAquarée is offially opend
1. April 2004
DIFA starts with the worldwide investing DIFA-Global
10 March 2004
Opening of the „CityQuartier Riem Arcaden in der Messestadt“, Munich
27 February 2004
Combined assets of both retail funds exceed EUR 16 billion.
23 July 2003
Combined assets of both retail funds exceed EUR 15 billion.
19 May 2003
Total assets of DIFA-GRUND exceed EUR 5 billion.
February 2002
Foundation stone laid for the DomAquarée CityQuartier in Berlin.
21 January 2002
Combined assets of both retail funds exceed EUR 10 billion.
17 December 2001
DIFA becomes part of Frankfurt-based Union Fonds Holding AG (now Union Asset Management Holding AG).
30 October 2001
Work starts on the “StadtQuartier Riem Arcaden in der Messestadt” development in Munich. With a budget of some EUR 500 million, the project is due for completion in spring 2004.
March 2001
Construction begins in Berlin on DIFA’s DomAquarée CityQuartier.
December 2000
Grand opening of the first DIFA CityQuartier, in Berlin. Representing an investment of around DEM 700 million, the Neues Kranzler Eck CityQuartier took three years to complete and has a gross floor area of approx. 70,285 sq m.
May 2000
DIFA moves into new premises at Caffamacherreihe 8, 20355 Hamburg, Germany.
March 1999
Launch of the GSC:Global Service Center concept.
January 1999
DIFA starts publishing issue and redemption prices in euros.
27 February 1998
Total assets of the DIFA funds amount to more than DEM 15 billion.
29 September 1997
Construction starts on the “Frankfurter Welle” (Frankfurt Wave) development. Costing around DEM 1.3 billion and with a gross floor area of some 100,000 sq m, the Frankfurter Welle CityQuartier is DIFA’s biggest investment to date.
The DIFA funds’ real estate assets amount to DEM 5,553 million, comprising more than 1 million sq m of space.
6 March 1996
DIFA-Fonds Nr. 1 and DIFA-GRUND see total assets rise to over DEM 10 billion.
01 April 1995
DIFA-GRUND celebrates its 10th birthday with total assets of DEM 1,776 million and a portfolio of 26 properties.
5 January 1994
DIFA-GRUND exceeds DEM 1 billion.
30 December 1993
DIFA-Fonds Nr. 1 exceeds DEM 5 billion.
08 September 1993
Combined assets of both retail funds exceed the DEM 5 billion mark.
14 January 1993
DIFA is renamed DIFA DEUTSCHE IMMOBILIEN FONDS AG.
12 January 1993
Total assets of all DIFA funds reach DEM 4 billion.
31 March 1992
Total assets of all DIFA funds reach DEM 3 billion.
1 July 1991
DIFA-Fonds Nr. 1 celebrates its 25th anniversary.
28 June 1991
Distribution payments for the 25th fiscal year for DIFA-Fonds Nr. 1 (1990/91). In 25 years of fund activity distribution payments have totalled DEM 929 million.
31 March 1991
DIFA-Fonds Nr. 1 completes its 25th year. Since inception the value of a share in the fund has increased by 451 per cent (assuming reinvestment of all distributed income). Total assets amount to DEM 1.9 billion, including real estate worth DEM 1.5 billion, with a total of 76 properties.
DIFA-GRUND has 21 properties and total assets of DEM 441 million.
17 December 1990
DIFA celebrates its 25th anniversary.
29 June 1990
Distributions of over DEM 100 million paid to investors in DIFA-Fonds Nr. 1 with respect to the 1989/90 fiscal year – a new record.
1 March 1990
Legislation to boost the competitiveness of Germany’s financial markets (Financial Market Development Act) comes into force, which includes legislation to implement the EC directive of 10 December 1985 (Investment Directive Act). This involves changes to key sections of the Investment Companies Act (KAGG). The most important change for open-ended real estate funds, which were previously restricted to investing in the Federal Republic of Germany, is the extension of investment opportunities to other European Community member states.
31 December 1989
Today’s DZ BANK takes over as depositary for DIFA-Fonds Nr. 1.
10 October 1989
Inception of DIFA-Fonds Nr. 3, a special fund for church pension schemes.
30 June 1987
Combined assets of both retail funds exceed DEM 2 billion.
3 June 1987
Change in ownership of the capital investment company. DIFA is now wholly owned by the FinanzVerbund der Volksbanken Raiffeisenbanken.
01 April 1985
DIFA establishes a further open-ended real estate fund. This second retail fund is given the name DIFA-GRUND. Just one month after inception total assets amount to DEM 80 million. Today’s DZ BANK is appointed as depositary.
16 March 1984
Total assets of DIFA-Fonds Nr. 1 exceed DEM 1 billion.
1 January 1981
Change in ownership of the capital investment company. The co op group ceases to be a shareholder. 50 per cent of the share capital is now held by what is today the DZ BANK and, for the first time, the central banking institutions of the credit cooperative movement. Cooperation with the FinanzVerbund der Volksbanken Raiffeisenbanken alliance opens up unprecedented opportunities for marketing shares in the fund.
23 June 1980
The name of the retail fund is changed to DIFA-Fonds Nr. 1.
14 May 1980
The company now trades as Deutsche Immobilien Fonds AG.
31 March 1977
Total assets exceed DEM 500 million. The number of properties rises to 104.
31 March 1970
The fund’s portfolio stands at 30 complete properties and 20 sites either under construction or as yet undeveloped.
01. Nov 69
An amendment to the German Investment Companies Act (KAGG) makes open-ended real estate funds subject to investment legislation. As a result, open-ended real estate funds now are the owner of the property assets and hold them in trust for their investors (effective as of 1 July 1970).
01. Aug 69
Fund investors are offered investment account management for the first time. At the same time systems are set up for receiving regular payments and for the automatic reinvestment of annual distributions.
27 June 1969
The Deutsche Genossenschaftskasse (German Cooperative Bank, now DZ BANK AG Deutsche Zentral-Genossenschaftsbank) becomes a shareholder.
31 March 1967
At the end of the first (nine-month) fiscal year total assets are DEM 18 million, and the fund has a portfolio of 13 properties.
1 July 1966
DIFA-Fonds Nr. 1 established as the first retail fund under the name “co op Immobilienfonds”.
17 December 1965
Investment company established in Hamburg under the name “co op Immobilienfonds Verwaltung AG”. Its shareholders are the central institutes of Germany’s consumer cooperative societies and the BfG bank.
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