2017 Press Releases

October 9, 2017

Deutsche Asset Management and QIC complete asset swap of 555 Lonsdale Street, Melbourne and Pittwater Place, Mona Vale, Sydney

Deutsche Asset Management (Deutsche AM) today announced that it has acquired 555 Lonsdale Street, Melbourne on behalf of a European institutional client. The transaction was part of a property swap with QIC for Sydney shopping centre, Pittwater Place in Mona Vale. Both properties settled simultaneously.

555 Lonsdale Street, Melbourne comprises 16 levels and more than 16,000 square metres of modern office space, recently refurbished to a high standard. Well positioned within the city’s legal precinct and Victorian Law Courts, the property has a strong tenancy profile supported by a number of reputable legal service providers.
 
Victoria Sharpe, Head of Alternatives, Asia Pacific at Deutsche AM said: ‘The swap deal is a rare occurrence in private real estate and worked for both parties.’ She added: ‘This is an excellent investment in Melbourne’s strengthening CBD office market and a great opportunity to diversify the global portfolio for our client.’
 
This latest purchase follows on from the recent office building acquisition of 120 Edward Street in Brisbane as well as three logistics acquisitions across Brisbane and Melbourne made by Deutsche AM so far this year.

Deutsche AM’s real estate business has 49.7 billion euros/56.7 billion US dollars globally in assets under management as of June 30, 2017.

For further information please contact:

Press office: Mia Popplewell
Phone: +852 2203 7077
Email: mia.popplewell@db.com

Deutsche Asset Management - Real Estate

Deutsche Asset Management’s real estate investment business has been investing in real estate assets for more than 45 years. As part of the Alternatives platform, the real estate business has more than 450 employees around the world and USD 56.7 / EUR 49.7 billion in assets under management as of June 30, 2017, 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 our real estate investment capabilities, go to www.deutscherealestate.com

Deutsche Asset Management

With EUR 711 billion of assets under management (as of June 30, 2017), 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.
In Australia this press release is issued by Deutsche Australia Limited (ABN 37 006 385 593) holder of an Australian Financial Services License (AFSL No 238157). Deutsche Australia Limited is not an Authorised Deposit-taking Institution under the Banking Act 1959 nor regulated by APRA.



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Last Update: October 9, 2017
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