Deutsche Asset & Wealth Management Acquires Central Chicago Office Tower

Deutsche Asset & Wealth Management (Deutsche AWM) today announced that is has acquired 222 South Riverside Plaza in Chicago in an off market transaction on behalf of one of its investment funds. The deal incorporates an asset swap combined with a cash balance negotiated directly with the seller.

Located between Adams Street and Jackson Boulevard, the project includes a 34-story office tower and three story annex at 444 West Jackson comprising 1,111,073 square feet in total. The property is 90% leased to a strong tenant roster. A full interior and exterior renovation is planned.

The property, situated above Chicago Union Station, is well positioned along the west bank of the Chicago River in the West Loop submarket of the Central Business District providing excellent transport links, and access to a strong amenity base of restaurants and retail.

“Our ability to negotiate an off market transaction of this nature has resulted in an attractive pricing outcome relative to other recent Chicago office trades,” said Todd Henderson, Head of Real Estate, Americas at Deutsche AWM. He added, “This demonstrates the strength of our market position to identify an opportunity and leverage our existing portfolio to achieve a desirable outcome for our investors.”

Deutsche Asset & Wealth Management – Real Estate

Deutsche Asset & Wealth Management’s real estate investment business 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, USD 47.6 billion in assets under management as of December 31, 2014, and offers a diverse range of strategies and solutions across the risk and 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, please go to www.deutscherealestate.com.

Deutsche Asset & Wealth Management

With USD 1.26 trillion of assets under management (as of December 31, 2014), 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 Management and 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.

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