NEW YORK--(BUSINESS WIRE)--Deutsche Asset & Wealth Management’s (Deutsche AWM) Alternatives and Real Assets (ARA) business today announced that it has acquired a Class A medical office complex at 50 Staniford Street in Boston, MA for USD 123 million. Deutsche AWM acquired the property on behalf of one of its investment funds.
The property, 50 Staniford, is located on Massachusetts General Hospital’s (Mass Gen) main campus in the Beacon Hill-Government Center, a submarket of Boston metropolitan statistical area. Mass Gen is consistently ranked as one of the top three hospitals in the US, and is the primary teaching hospital for Harvard Medical School. It also serves as Mass Gen’s premier outpatient medical office facility and hosts a variety of campus-based clinical groups.
“50 Staniford is a trophy medical office building and will add diversification to our portfolio," said Todd Henderson, Head of Real Estate in the Americas for ARA. “We expect this select property to provide long-term sustainability to our portfolio given its stable cash flows and the excellent credit quality of the tenancy."
Deutsche Asset & Wealth Management – Real Estate
Deutsche Asset & Wealth Management’s real estate investment business has been investing in real estate assets for more than 40 years. As part of the Alternatives and Real Assets platform, this business today has more than 450 employees around the world, USD 50.3 billion in assets under management as of March 31, 2015, and offers a diverse range of strategies and solutions across the risk and 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 superior 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 & Wealth Management’s real estate investment capabilities, please go to www.deutscherealestate.com.
Deutsche Asset & Wealth Management
With USD 1.25 trillion of assets under management (as of March 31, 2015), Deutsche Asset & Wealth Management¹ is one of the world's leading investment organizations. Deutsche Asset & Wealth Management offers individuals and institutions traditional and alternative investments across all major asset classes. It also provides tailored wealth management solutions and private banking services to high-net-worth individuals and family offices.
¹ Deutsche Asset & Wealth Management is the brand name of the Asset Management and Wealth Management division of the Deutsche Bank Group. The legal entities offering products or services under the Deutsche Asset & Wealth Management brand are listed in contracts, sales materials and other product information documents.
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