2016 Media Releases
Deutsche Asset Management sells 140 Sussex Street, Sydney to a Chinese investor
Deutsche Asset Management today announced that its real estate investment business has sold 140 Sussex Street, Sydney on behalf of one of its German institutional clients to a Chinese financial institution for AUD $130 million.
Built in 1991, the 14 story building comprises over 12,000 square meters of office and retail space in addition to a two level basement car park. The property is centrally located in the Western Corridor precinct of Sydney’s CBD, an area with a large financial and accounting firm presence, currently undergoing a major resurgence including the redevelopment of the Barangaroo South area. The Sydney CBD is the largest office market in Australia.
‘As demand for Sydney CBD’s core assets continues to increase, we were able to capitalize on a strong point in the market cycle to sell this property,’ said Victoria Sharpe, Head of Real Estate, Asia Pacific, for Deutsche Asset Management.
Earlier this year the business purchased 151 Castlereagh Street, Sydney Australia and will continue to look for investment opportunities in key Australian cities. Deutsche AM’s real estate business in Asia Pacific currently holds EUR 2.3 / USD 2.6 billion in assets under management as of 30 June 2016.
For further information please contact:
Mia Popplewell
Phone: + 61 (2) 8258 2092
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 40 years. As part of the Alternatives platform, this business has more than 410 employees around the world and US$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 our real estate investment capabilities, go to https://www.dws.com/capabilities/alternatives/real-estate/
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 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.