Deutsche Asset & Wealth Management’s (DeAWM) real estate investment
business today announced that it has acquired Parker Place in Berkeley,
CA, on behalf of one of its institutional clients.
Located in the highly-desirable Oakland/Berkeley submarket, Parker Place
is a mixed-use development of 155 luxury multifamily units atop
ground-level retail space. It is a joint venture with Lennar Multifamily
Communities. Given the difficulty in obtaining development entitlements,
once completed Parker Place will be one of a select few purpose-built,
institutional-quality luxury multifamily assets.
“Parker Place is a high-quality property in a very desirable location
that boasts one of the tightest vacancy rates in the nation,” said Todd
Henderson, Head of Real Estate, Americas, at DeAWM. “We were fortunate
to be able to form a joint venture partnership with Lennar and secure an
investment that we expect to produce excellent returns for our client
throughout the lifecycle of the investment.”
Deutsche Asset & Wealth Management – Real Estate
Deutsche Asset & Wealth Management’s real estate investment business has
been investing in real estate assets for more than 40 years. As part of
the Alternatives and Real Assets platform, this business today has more
than 450 employees around the world and US$48.3 /€35.04 billion in
assets under management as of March 31, 2014, and offers a diverse range
of strategies and solutions across the risk/return and geographic
spectrums, including core and value-added real estate, real estate
securities, real estate debt and opportunistic real estate. The real
estate investment business employs a disciplined investment approach and
aims to deliver superior long-term risk adjusted returns, preservation
of capital and diversification to its investors, which include
governments, corporations, insurance companies, endowments, retirement
plans, and private clients worldwide. To learn more about Deutsche Asset
& Wealth Management's real estate investment capabilities, go to www.rreef.com
Deutsche Asset & Wealth Management
With $1.29 trillion of assets under management (as of March 31, 2014),
Deutsche Asset & Wealth Management¹ is one of the world's leading
investment organizations. Deutsche Asset & Wealth Management offers
individuals and institutions traditional and alternative investments
across all major asset classes. It also provides tailored wealth
management solutions and private banking services to high-net-worth
individuals and family offices.
¹ Deutsche Asset & Wealth Management is the brand name of the Asset &
Wealth Management division of the Deutsche Bank Group. The legal
entities offering products or services under the Deutsche Asset & Wealth
Management brand are listed in contracts, sales materials and other
product information documents. I-035586-1.0
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