DWS expects to raise $500m (€445.4m) this year for its open-ended core-plus industrial vehicle and invest the same amount for the fund during the period.
The RREEF Core Plus Industrial Fund’s 2019 investment plan was part of a presentation DWS made to the San Diego City Employees’ Retirement System (SDCERS) at the pension fund’s board meeting.
The Core Plus Fund intends to invest $375m the capital raised into existing operational properties and $125m into new development complexes.
In the meeting document, SDCERS said it has approved a $50m commitment, adding that the fund’s entry queue was $172m as at the end of March this year.
DWS launched the Core Plus Industrial Fund in June 2017. As at the first quarter of this year, the fund had a gross asset value of $1.1bn.
Target markets for the fund include Southern California, the San Francisco Bay Area, Seattle, Denver, Dallas, Chicago, Atlanta, Miami and New York/New Jersey.
DWS did not respond to a request for comment.
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