RREEF Real Estate, the real estate investment management business of Deutsche Asset Management, announced it completed over EUR 1.9 bn of transactions across the globe in 2011 on behalf of its German clients.

RREEF Real Estate’s two open-ended German real estate funds, grundbesitz europa and grundbesitz global, acquired five properties for EUR 404 mln while six buildings were sold on behalf of these funds for EUR 715 mln.

In addition, RREEF Real Estate’s special funds for institutional investors acquired 17 individual properties and one residential real estate portfolio with a total value of EUR 644 mln. The special funds also sold three properties for EUR 162 mln.

Germany was a primary focus for RREEF Real Estate’s transactions activity in 2011, with key deals including the sale of the PEP shopping centre in Munich for EUR 408 mln, and the acquisition of the Sanssouci residential real estate portfolio of 221 apartments in the outskirts of Berlin. Transactions on behalf of German clients were also executed across Europe, the US and Asia Pacific.

In Germany, RREEF also manages nine special funds for institutional investors. The fund manager has EUR 43.6 bn of assets under management.