Deutsche Asset Management (Deutsche AM), the real estate arm of Deutsche Bank, has raised commitments of €568 mln from 12 institutional investors for the first close of its new open-ended pan-European core real estate fund.
'Our established local presence across Europe and proven reputation in core investing has resulted in this great fundraising achievement,' commented Georg Allendorf (pictured), head of real estate Europe at Deutsche AM. 'With a positive market landscape across Europe, we look forward to delivering upon this investment strategy for our investors.'
The fund attracted investors from the Netherlands, the United States, Germany and Switzerland, according to Deutsche AM.
Focused on income and capital growth, the institutional fund will invest across core locations in larger European economies as well as in diverse sectors, including office, retail and logistics.
Deutsche AM currently holds €49.7 bn globally in real estate assets under management as of end-June 2017.
