2017 Media Releases

June 1, 2017

Deutsche Asset Management increases Australian presence with Melbourne Logistics Warehouse acquisition

Deutsche Asset Management (Deutsche AM) today announced the acquisition of Montague Cold Storage, a logistics facility located in Truganina in Melbourne on behalf of a German institutional fund in an off market transaction from CorVal, a specialist investor and property fund manager.

The facility, located at 7 – 23 Dunmore Drive, was newly constructed in 2014 to a high, technical specification and is single let to tenant Montague Cold Storage, one of the largest cold storage groups in Australia. Comprising almost 17,000 square meters, the modern, single story, cold storage warehouse includes freezer rooms, cold room annex, facility rooms and ancillary administration offices, in addition to a 52 space car park.

The property is well located in Truganina, an established industrial precinct west of Melbourne favoured by leading logistic operators and distributors. The facility benefits from excellent connectivity to local port, airport and railway stations in Melbourne via major freeways and road networks. Melbourne remains the manufacturing centre and distribution hub of Australia being home to its largest port.

“The addition of Montague Cold Storage provides a good opportunity to further diversify the sector and geographic allocation of our fund,” said Victoria Sharpe, Head of Real Estate, Asia Pacific, adding, “This is our third logistics acquisition this year in Australia, and we anticipate continued growth in the food retail sector to drive demand for cold store logistics facilities.’
The acquisition of Montague Cold Storage follows on from the February acquisitions of Rand Transport’s logistics facilities in Derrimut, Melbourne and Parkinson, Brisbane also on behalf of a German institutional client.

Deutsche AM’s real estate business currently holds EUR 51.0 / US $ 54.6 billion globally in assets under management as of 31 March, 2017.

For further information please contact:

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 40 years. As part of the Alternatives platform, this business has more than 410 employees around the world and US$54.6 / €51.0 billion in assets under management as of March 31, 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 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 723 billion of assets under management (as of March 31, 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 issued by Deutsche Australia Limited (ABN 37 006 385 593) holder of an Australian Financial Services  License. Deutsche Australia Limited is not an Authorised Deposit-taking Institution under the Banking Act 1959 nor  regulated by APRA.


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