Deutsche Bank said that it is acquiring RREEF, a U.S. real estate investment management group, in a deal valued at US$490 million.

Deutsche paid approximately US$440 million for RREEF's operations and will spend an additional $50 million for co-investment assets RREEF has with certain partners, the company said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.