March 28, 2012

RREEF Real Estate Acquires Park House, 16-18 Finsbury Circus, London, EC2

RREEF Real Estate, the real estate investment management business of Deutsche Bank’s Asset Management division, announced today that it has acquired Park House, Finsbury Square in London EC2 on behalf of one of its German open end funds, grundbesitz europa for £150,250,000. The seller was PRUPIM.

This prime asset, located in London’s City, comprises 195,000 square feet of office and retail accommodation. It was redeveloped in 2008 to provide full specification offices around a full height atrium behind listed façades.

The property is occupied by high profile City tenants including Bloomberg, Cisco Systems, City Index and Brown Brothers Harriman and provides an average lease term of over seven years.

James Petit, Head of UK for RREEF Real Estate, said of the transaction, "Park House is a high quality asset that we were excited to acquire for our clients. The team's broad experience enabled us to close the transaction in just four weeks."

RREEF Real Estate has acquired over £1 billion of property in the UK over the past five years, and over £450 million in 2011 on behalf of its clients around the world.

For further information, please call:

Deutsche Bank
Nick Bone        
Media Relations +44 20 7547 2603


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Last Update: March 28, 2012
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