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Deutsche Bank Creates $21B Global Real Estate Investment Management Business

FRANKFURT-Deutsche Bank has combined its six separate real estate investment management groups around the world into a single entity, DB Real Estate, which will be run out of New York. The new company will have $21 billion under management.

By Graham Parker | Updated on February 28, 2002

FRANKFURT-Deutsche Bank is to merge its six separate real estate management operations into a single worldwide group to be called DB Real Estate. The new company will be the world’s second-biggest real estate investment manager. It will be based in New York and headed by Richard M. Gunthel.

DB Real Estate will operate from 13 offices around the world employing 500 real estate professionals and managing £21 billion of assets. DB Real Estate will take over the operations of Deutsche Asset Management in Australia; Deutsche Grundbesitz in Germany; Deutsche Bank Real Estate Private Equity Group and Deutsche Property Asset Management in London; DB Realty Mezzanine Investment Funds in New York and Deutsche Bank Fondimmobiliari in Italy.

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