Deutsche Asset & Wealth Management Acquires Las Olas Centre in Fort Lauderdale, Florida

Business Wire

NEW YORK--(BUSINESS WIRE)--

Deutsche Asset & Wealth Management’s (DeAWM) real estate investment business today announced that it has acquired 350 and 450 East Las Olas Boulevard, Fort Lauderdale, Florida on behalf of one of its clients.

The property, consisting of two towers, offers 468,000 square feet of office and retail space in the central business district. The Centre occupies approximately 3.4 acres and 600 feet of frontage on Las Olas Boulevard in Downtown Fort Lauderdale.

The project, certified LEED Gold with the U.S. Green Building Council, is one of very few options for trophy quality Class A office space in a desirable location due to walking distance to shopping, restaurant and entertainment precincts, as well as proximity to airports, highways and executive housing.

“Las Olas Centre is a great addition to our portfolio. We believe Las Olas Centre is the premier office asset in the market with exceptional amenities including its retail tenancy. Our view is that the buildings' improvements and central location in the Fort Lauderdale CBD will continue to attract top tier tenants at market leading rents - positioning the property to deliver strong long term returns for our client,” said Todd Henderson, Head of Real Estate, Americas, at Deutsche Asset & Wealth Management.

Deutsche Asset & Wealth Management – Real Estate

Deutsche Asset & Wealth Management’s real estate investment business (formerly RREEF Real Estate) 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 and US$47.0 /€34.1 billion¹ in assets under management as of December 31, 2013 , 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 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, go to www.rreef.com.

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Excludes infrastructure securities assets under management, which were previously reported under the RREEF Real Estate business.

Deutsche Asset & Wealth Management

With $1.28 trillion of assets under management (as of December 31, 2013), 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 & 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. I-034367-1.2

Contact:
For further information:
Deutsche Bank AG
Press & Media Relations
Maria Gonzalez, +1-212-250-9793
maria-a.gonzalez@db.com
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