Deutsche Bank combined the operations of its six existing real estate investment management groups into one organization, to be known as DB Real Estate. The combined organization, with $21 billion in assets, will be the second largest global real estate investment adviser after Lend Lease. DB Real Estate will be a unit of Deutsche Asset Management.
DB Real Estate will be led by Richard M. Gunthel, managing director and global head. He was head of global real estate investment banking at Deutsche Banc Alex. Brown.