Press information HOCHTIEF takes over RREEF property

Press information
CORPORATE
COMMUNICATIONS
Christian Gerhardus
HOCHTIEF takes over RREEF property
management function
Opernplatz 2
45128 Essen, Germany
Tel.: +49 201 824-2642
Fax: +49 201 824-2585
[email protected]
Five-year service contract—Management of 75 properties in Germany
HOCHTIEF Property Management GmbH is taking over the property management unit of
RREEF in Germany with immediate effect. The two companies have just signed a five-year
service contract, covering 75 properties. Regarding the terms of the contract, they have
agreed to maintain confidentiality. It is planned that with the property management activities,
HOCHTIEF will also take over 32 RREFF employees.
RREEF (Deutsche Bank Group) is one of the leading vendors of open-ended and closed-end
real estate funds in Germany. The properties concerned form part of RREEF funds for
private and institutional investors. With this transaction, HOCHTIEF will manage RREEF
properties in Germany with an aggregate area of 500,000 square meters. The asset
management function for these properties will remain with RREEF.
In July this year, HOCHTIEF Property Management already took over the property
management unit of Allianz Immobilien GmbH, with around 300 employees. This followed
the conclusion of a ten-year service contract to manage some 600 Allianz properties with a
total rental area of about four million square meters. With an aggregate rental area of eight
million square meters and assets worth EUR 13 billion under management, HOCHTIEF
Property Management is now one of the largest independent property managers in
Germany.
HOCHTIEF is one of the leading international providers of construction-related services.
With almost 47,000 employees and a sales volume of EUR 15.51 billion in FY 2006, the
company is represented in all the world‘s major markets. In the USA, the biggest
construction market in the world, HOCHTIEF is the No. 1 general builder via its subsidiary
Turner. With its Group company Leighton, HOCHTIEF is market leader in Asia/Australia. The
HOCHTIEF service offering in the fields of development, construction, services, concessions
and operation covers the entire value chain of projects. Further information is available at
www.hochtief.com/press.
HOCHTIEF Property Management is one of the leading providers of high-grade property
management solutions in Germany, with a total rental area of over seven million square
HOCHTIEF Aktiengesellschaft , Sitz der Gesellschaft: Essen, Registergericht: Essen HRB 279, USt-IdNR. DE 1198 171 25, StNr. 5112/5710/0012,
Vorsitzender des Aufsichtsrates: Dr. rer. pol. h. c. Martin Kohlhaussen; Vorstand: Dr.-Ing. Herbert Lütkestratkötter (Vorsitzender),
Dr. rer. pol. Burkhard Lohr, Dr. rer. pol. Peter Noé, Prof. Dr.-Ing. Martin Rohr, Dr. jur. Frank Stieler
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12/03/2007
meters and assets worth around EUR 13 billion under management. The company acts
successfully on behalf of real estate investors and as owner’s representative contributes to
the lasting optimization of yields from real estate investments. HOCHTIEF covers the entire
CORPORATE
COMMUNICATIONS
Christian Gerhardus
bandwidth of modern property management, from project development to professional facility
Opernplatz 2
management and asset and property management. Further information is available at
45128 Essen, Germany
www.hochtief-propertymanagement.com.
RREEF Real Estate acquires and manages investments in commercial and residential
Tel.: +49 201 824-2642
Fax: +49 201 824-2585
[email protected]
property, and real estate securities on behalf of its institutional and private clients worldwide.
Its product offering is global and comprehensive, including core, value-enhanced and high
yield property investments as well as investments in publicly traded real estate securities.
RREEF Real Estate has more than EUR 58.7 billion in assets under management worldwide
as of September 30, 2007. RREEF Real Estate is part of RREEF Alternative Investments,
the global alternative investment management business of Deutsche Bank’s Asset
Management division. RREEF Alternative Investments consists of four businesses: Real
Estate, Infrastructure, Private Equity and Hedge Funds. Headquartered in New York, RREEF
Alternative Investments employs more than 1,400 investment professionals in 18 cities
around the world to help investors meet a wide range of objectives - from diversification, to
preservation of capital, to long-term performance. Named the world’s largest alternative
investments manager in Watson Wyatt’s Alternative Survey, September 2006, RREEF has
EUR 68.2 billion in assets under management worldwide as of September 30, 2007.
Contact:
Tim Oliver Ambrosius +49-69-910 42648 / [email protected]
Deutsche Bank AG Press & Media Relations
HOCHTIEF Aktiengesellschaft , Sitz der Gesellschaft: Essen, Registergericht: Essen HRB 279, USt-IdNR. DE 1198 171 25, StNr. 5112/5710/0012,
Vorsitzender des Aufsichtsrates: Dr. rer. pol. h. c. Martin Kohlhaussen; Vorstand: Dr.-Ing. Herbert Lütkestratkötter (Vorsitzender),
Dr. rer. pol. Burkhard Lohr, Dr. rer. pol. Peter Noé, Prof. Dr.-Ing. Martin Rohr, Dr. jur. Frank Stieler
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12/03/2007