DIR Deutsche Investment Retail has hired Achim Ellguth to lead all asset management activities across the retail real estate portfolio.
Ellguth has been acquiring industry experience since 2007, including extensive knowledge in the area of grocery retailing which he will use to grow the agenda for the Deutsche Investment – Food Retail I fund.
Launched in April 2020, the Deutsche Investment – Food Retail I fund was the first product put on the market by the investment and asset manager, which specialises in retail warehouses and retail warehouse parks with a grocery retail focus.
Since its launch, it has invested around €103 mln, with roughly another €90 mln worth of assets currently in the acquisition phase.
Last month, DIR acquired a discount grocer in the city of Dieburg on behalf of the fund. The building is fully leased to the chain Netto Marken-Discount.
Susanne Klaussner, managing partner of DIR commented: ‘As he joins ranks with Matthias Kreil MRICS, head of transaction management, and Pia Gramlich, head of property management, our senior executive level now boasts an extensive track record, long-term experience and in-depth market understanding of this particular asset class.’
Before joining DIR, Ellguth worked for Centerscape Deutschland as head of group portfolio management.
DIR Deutsche Investment Retail is part of the Deutsche Investment Group and was formed in 2019 specifically to cover the grocery retail segment.
Deutsche Investment's strategy is to implement special funds with the focus currently on residential, commercial (office) and food retail types of use.
The residential and office segment includes not only the core markets of Berlin and Hamburg, but also acquisitions in other cities such as Düsseldorf, Hanover, Dresden, Leipzig and Erfurt. In the retail segment, Deutsche Investment invests nationwide.
