Internationally, 21 properties were acquired for approximately EUR 1.95 billion and six properties were sold realising around EUR 400 million for the three open-end real estate mutual funds, as well as for the closed-end fund product suite.
In terms of funds and mandates for institutional investors, 14 properties were acquired for approximately EUR 1 billion and 14 properties sold for around EUR 1.25 billion.
“We are delighted to report that fund assets in our three open-end real estate mutual funds surpassed the EUR 10 billion mark for the first time in August 2018” said Georg Allendorf, Head of Real Estate for Europe at DWS. “Notable transactions on our European platform included the acquisition of the Rivierstaete office building in Amsterdam - at 228 million euro this was the largest single transaction in the Netherlands”.
“We are also proud of the high transaction volume in Real Estate and Infrastructure Debt”, said Clemens Schäfer, Chief Investment Officer and Head of Portfolio Management European Real Estate. “In this area last year, assets under management in our loan products broke the two billion euro threshold and we see further potential in 2019 as well”.
Alongside office blocks DWS views residential developments, including student apartments or service apartments, as well as logistics and hotel investments as interesting targets.
As prices have risen in many markets DWS will remain selective in the investments it chooses.
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DWS Group (DWS), is one of the world's leading asset managers with EUR 692bn of assets under management (as of 30 September 2018). Building on more than 60 years of experience and a reputation for excellence in Germany and across Europe, DWS has come to be recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines. Deutsche Bank AG is the majority shareholder of DWS.
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 strategic investment approach.
DWS wants to innovate and shape the future of investing: with approximately 3,600 employees in offices all over the world, we are local while being one global team.