NEW YORK--(BUSINESS WIRE)--Deutsche Asset Management’s (Deutsche AM) Alternatives business today announced the acquisition of a 19-property, 3.3 million square foot industrial portfolio from International Airport Centers (IAC). The properties are located in seven major distribution markets across the US – Los Angeles, San Francisco, Seattle, Dallas, Chicago, Portland and San Diego.
The portfolio, which consists of 35 buildings, is 99% leased to 76 tenants with an average tenant size of approximately 40,000 square feet. Deutsche AM acquired the portfolio on behalf of an institutional investor through direct negotiation with IAC’s investment advisor – Perlmutter Investment Company.
“The portfolio’s geographic diversity across large distribution hubs and stable tenant base makes it an attractive investment,” said Todd Henderson, Head of Alternatives – Real Estate, Americas. “We are excited about the acquisition of such a diverse portfolio of industrial real estate and “appreciate the opportunity to work with IAC on this transaction.”
Deutsche Asset Management – Real Estate
Deutsche Asset Management’s real estate investment business has been investing in real estate assets for more than 40 years. As part of the Alternatives platform, this business has more than 410 employees around the world and $53.6/€48.2 billion in assets under management as of June 30, 2016, and offers a diverse range of strategies and solutions across the risk/return and geographic spectrums, including core and value-added real estate, real estate securities, real estate debt 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. To learn more about Deutsche Asset Management's real estate investment capabilities, go to www.deutscherealestate.com.
For informational purposes only, not an offer to buy or sell securities.
An investment in real estate involves a high degree of risk, including possible loss of principal amount invested, and is suitable only for sophisticated investors who can bear such losses.
Deutsche Asset Management
With about EUR 719 billion of assets under management (as of June 30, 2016), Deutsche Asset Management¹ is one of the world’s leading investment management organizations. Deutsche Asset Management offers individuals and institutions traditional and alternative investments across all major asset classes.
¹ Deutsche Asset Management is the brand name of the Asset Management division of the Deutsche Bank Group. The respective legal entities offering products or services under the Deutsche Asset Management brand are specified in the respective contracts, sales materials and other product information documents.