12. Juni 2017


Peakside Capital sells a portfolio of three Polish outlet centres to Deutsche Asset Management and is appointed as the portfolio, centre and asset manager

In English language only

Deutsche Asset Management (Deutsche AM) today announced that it has acquired the Fashion
House Portfolio in Poland which consists of three shopping outlets located in Warsaw, Gdansk
and Sosnowiec. The acquisition, from a fund managed by Peakside Capital, is on behalf of
Deutsche AM’s German funds.

The portfolio comprises over 50,000 square meters of retail space, with over 210 different tenants
including Nike, Adidas, Puma and 4F, offering a balanced and attractive combination of national
and international, high-street retailers and luxury brands. Built mostly in 2005, the outlets feature
unique themed architecture and substantial car parking facilities, and benefit from prominent
positions within their cities, with excellent accessibility and visibility.

In addition, Deutsche AM has appointed PRÔM as the portfolio centre and asset manager.
PRÔM is a joint venture of Peakside Capital and ROS Retail Outlet Shopping.

“This transaction allows Peakside to liquidate the 2007 vintage Polonia Property Fund II Ltd,
generating attractive returns for our investors. The assets still possess significant value creation
potential and we are delighted to remain involved through our joint venture, PRÔM, supporting
business continuity,” said Stefan Aumann, Partner, Peakside Capital.

"Our investment in the Fashion House Portfolio outlets complements the traditional retail centres,
while providing defensive investment exposure to the evolving retail sector,” said Georg Allendorf,
Head of Real Estate, Europe, at Deutsche Asset Management. He added, "These three outlet
centres enjoy strong recognition in the Polish market and we look forward to working with our
newly appointed centre managers PRÔM to further strengthen the position of this portfolio.”

"We thank Deutsche Asset Management for the opportunity to work together and will commence
work on a shared vision for the portfolio,” said Thomas Reichenauer, Managing Director, PRÔM.
He added, “Continued success of the outlets will be sustained by strengthening our excellent
relationships with brand partners and stakeholders, whilst constantly curating attractive offerings
for customers."

PRÔM will assume full responsibility for centre management from the end of June, following an
interim period.

Deutsche Asset Management’s global real estate business currently holds US$54.6 / €51.0 billion
in assets under management as of March 31, 2017. The acquisition of the Fashion House
Portfolio brings total assets under management in Poland to EUR 1.65 billion.

For further information, please contact:
Nick Bone
Tel: +44 207 547 2603

Deutsche Asset Management - Real Estate
Deutsche Asset Management’s real estate investment business has been investing in real estate assets for more than 40 years. As part of the Alternatives platform, this business has more than 410 employees around the world and US$54.6 / €51.0 billion in assets under management as of March 31, 2017, and offers a diverse range of strategies and solutions across the risk/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 attractive 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 our real estate investment capabilities, go to www.deutscherealestate.com

An investment in real estate involves a high degree of risk, including possible loss of principal amount invested, and is suitable only for sophisticated investors who can bear such losses. No assurance can be given that investment objectives will be achieved.
Past performance is not a guarantee of future results.

Deutsche Asset Management
With EUR 723 billion of assets under management (as of March 31, 2017), Deutsche Asset Management¹ is one of the world’s leading investment management organizations. Deutsche Asset Management offers individuals and institutions traditional and alternative investments across all major asset classes.
¹ Deutsche Asset Management is the brand name of the Asset Management division of the Deutsche Bank Group. The respective legal entities offering products or services under the Deutsche Asset Management brand are specified in the respective contracts, sales materials and other product information documents.
Peakside Capital is active across all property types in Germany and Central Eastern Europe (“CEE”), and provides deal origination and execution, asset management and fund management services to managed funds and qualified investors. Peakside Capital founded in 2010, is fully partner owned and has 40 employees of which more than 20 are based in CEE. Currently, Peakside Capital manages investments in Germany and CEE, totalling over €1 billion in gross asset value for a number of funds as well as separate accounts.
PRÔM PEAKSIDE ROS Outlet Management
PRÔM is the joint venture of PEAKSIDE CAPITAL and ROS Retail Outlet Shopping.
ROS Retail Outlet Shopping, headquartered in Vienna with subsidiaries in Rome and Paris, is an independent retail real estate consulting and centre management company specialised in Designer Outlets and innovative outlet shopping concepts in Central Europe. The founders Thomas Reichenauer and Gerhard Graf are both serious professionals with over 20 years’ experience of working in the European outlet market. ROS Retail Outlet Shopping currently has 50 employees in 5 countries at 6 locations. The portfolio of ROS Retail Outlet Shopping includes the following outlet villages: Designer Outlet Soltau, City Outlet Geislingen, Brugnato 5Terre Outlet Village, Premier Outlet Budapest and new developments such as Designer Outlet Algarve, Designer Outlet Croatia, Designer Outlet Zaragoza, City Outlet Wuppertal, Fashion Outlet Kraków, Home & Design Outlet Santhià and City Outlets Paris.
Issued by press department of Deutsche Bank AG
Winchester House, 1 Great Winchester Street,
London, EC2N 2DB
Phone +44 (0) 20 7545 8000
Internet: http://www.db.com

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