DWS is acquiring three fully-let residential properties in the UK on behalf of one of its real estate funds.
The manager said it has agreed to buy the assets, situated within the Royal Albert Wharf development in East London, from Folio London, the private rented sector division of Notting Hill Genesis. Financial details were undisclosed.
IPE Real Assets understands that the assets were acquired on behalf of a new German residential fund for German institutional clients.
The properties, completed in 2020, have a total lettable area of around 12,300sqm.
Mike Hill, the head of UK and Ireland real estate transactions at DWS, said: “This acquisition is a testament to our strategy to focus on high-quality real estate investments offering stable cash flows and a sustainable occupancy level for our investors.
”We remain interested in promising acquisitions in the residential, logistics and office sectors.”
The operational capital markets arm of Savills advised the vendor on the transaction.
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