DWS today announced the acquisition of a newly built residential property located in Peckham, for 55 million pounds on behalf of one of its German real estate retail funds in an off market transaction from Notting Hill Genesis, a UK housing association.
This marks the first residential acquisition in the Build to Rent (BtR) sector for DWS in the United Kingdom. It follows on from recent large-scale residential investments across the Netherlands, Spain and Ireland in 2020, as well as the student residential sector across the United Kingdom.
Part of the wider Peckham Place development, the recently constructed property known as Idaline Court consists of a multi-storey apartment complex providing 108 private, high quality rental units. Built in accordance with the Code for Sustainable Homes, it offers varying floor plans, each with a private balcony in a professionally managed environment. Amenities include an attractive first floor, courtyard garden as well as basement parking with electric vehicle charging points and bicycle storage. Its convenient Zone 2 location benefits from excellent transport links to Central London.
"The London 'Build to Rent' (BTR) sector looks well positioned for high occupancy and growth with positive demand drivers and constrained supply of good quality, affordable, managed rental accommodation around Peckham," said Jessica Hardman, Head of European Portfolio Management at DWS.
Ronen Ribak, Head of European Real Estate Transactions at DWS continued: "Peckham's easy access to main Central London hubs and ongoing gentrification offers an affordable alternative to other locations. This acquisition continues our focus on the 'Build to Rent' sector across Europe in strong micro locations with good connectivity."
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DWS - Real Estate
DWS has been investing in real estate assets for 50 years. As part of the Alternatives platform, the real estate business has more than 450 employees around the world and EUR 65 billion in assets under management as of December 31, 2020. Providing a diverse range of strategies and solutions across the risk/return and geographic spectrums, we offer core and value-added real estate, real estate debt, real estate securities and opportunistic real estate. The real estate investment business employs a disciplined investment approach and aims to deliver attractive long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 793bn of assets under management (as of 31 December 2020). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major asset classes and solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground-knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, which guides our investment approach strategically.
DWS wants to innovate and shape the future of investing: with approximately 3,500 employees in offices all over the world, we are local while being one global team. We are investors – entrusted to build the best foundation for our clients' future.