Deutsche Asset Management's property and alternative investment unit RREEF has invested EUR 33.8 mln in the purchase of the mixed-use Caudwell portfolio from Doughty Hanson. The deal reflects a net initial yield of 6%. The portfolio comprises five office and industrial buildings in the British Midlands, and includes around 8.1 hectares of development land. Tenants include Transco, Caudwell Logistics, Vodafone, Phones4U and Pipex.
Deutsche Asset Management's property and alternative investment unit RREEF has invested EUR 33.8 mln in the purchase of the mixed-use Caudwell portfolio from Doughty Hanson. The deal reflects a net initial yield of 6%. The portfolio comprises five office and industrial buildings in the British Midlands, and includes around 8.1 hectares of development land. Tenants include Transco, Caudwell Logistics, Vodafone, Phones4U and Pipex.
Separately, RREEF has announced the final close of its DB Secondary Opportunities Private Equity Fund which raised $775 mln (EUR 580 mln) from investors in the US, Europe and the Middle East. The fund will be managed by RREEF Alternative Investment's Private Equity business and marks its first private equity offering.