Deutsche AM announced the first close of its new open-ended Pan European, core real estate fund, achieving first commitments of €568m from 12 institutional investors from across Europe and the United States.
Focused on income and capital growth, the institutional fund will invest across core locations in larger European economies as well as in diverse sectors, including office, retail, and logistics.
Georg Allendorf, Head of Real Estate Europe at Deutsche AM, said: “Our established local presence across Europe and proven reputation in core investing has resulted in this great fundraising achievement. With a positive market landscape across Europe, we look forward to delivering upon this investment strategy for our investors.”
Deutsche AM currently holds €49.7bn globally in real estate assets under management as of June 30, 2017.