FUND PROFILE grundbesitz global - RREEF Real Estate

Offi ce Property Akademia Bank Center in Budapest, Hungary 

LETTING SUCCESS ON 

THE DANUBE WATERSIDE 

The Akademia Bank Center in the 

Hungarian Capital of Budapest has 

been held inside the portfolio of 

the open-ended real estate fund 

grundbesitz global for nearly 12 

years and represented the fi rst acquisition 

in Hungary at the time. 

The property is located on the 

Eastern waterside of the Danube in 

the city district of Pest in a prime 

offi ce location, directly inside the 

Central Business District and in direct 

neighborhood to the Hungarian 

Academy of Sciences. 

The high-class offi ce property is a 

successful combination of a new 

development constructed in the 

year 2000 together with a historic 

old building under heritage protection. 

Users of the offi ces facing the 

Danube have a fantastic view of 

the Castle Mountain of Budapest 

Current Awards 

Scope Investment Rating, May 20123 Rating “BBB+“ “Second best mutual funds with global investment horizon“ 

Scope Management Rating, May 20124 RREEF best real estate fund management company with best rating „AAA“ 

Scope Investment Award, December 20115 “Best management company in the segment of Open-end real estate funds“ 

Feri Rating, November 20116 “Very good“ (A) in fund rating of Open-end real estate funds 

Feri EuroRating Awards, November 20117 “Best Asset Manager Real Estate“ 

FUND PROFILE 

grundbesitz global 

October 31, 2012 

Investment Policy 

Investments in real estate worldwide, primarily in North America, Asia and selectively in Central Europe. For risk diversifi cation, investments will be selected on sustainable 

return on diversifi cation through location, size, usage and tenant. 

3 Source: www.scope-group.com, Press Release dated the May 15th, 2012 

4 Source: www.scope-analysis.de, Analysis Information dated June 1st, 2012 

5 Source: www.scope-group.com, Press Release dated December 2nd, 2011 

on the opposite Danube waterside. 

The primary tenant of the 

property, the Raiffeisen Bank, values 

this magnifi cent view especially: 

it has based its corporate 

headquarters here since construction 

of the new building ensemble 

had been completed. However, 

not only because of the location of 

the property, but primarily due to 

the excellent building quality, the 

bank has recently decided to extend 

the lease contract encompassing 

around 12,000 square meters 

of space ahead of time and up 

until the year 2019. The previous 

lease contract would have ended 

in the year 2014. 

Additional offi ce spaces of approximately 

1,700 square meters on 

the upper fl oors are let until the 

year 2015 to a law fi rm. 

Against the background of the currently 

challenging situation within 

the Hungarian real estate market, 

this next letting success is espe- 

6 Source: frr.feri.de, FERI Press Release dated the November 29th, 2011 

7 Source: Feri Euro Rating Services, frr.feri.de, Press Release dated the November 23rd, 2011 

Akademia Bank Center 

Type Offi ce building 

Year of construction 2000 

Year of acquisition 2001 

Rental area 13,572 m 2 

Parking slots 142 

Market value 46.9 million € 

Occupancy rate 100% 

cially pleasing – particularly because 

the building is furthermore 

let to 100 percent. 

Immobilien 

Fonds 

Fonds 

Immobilien

Fund Profi le grundbesitz global as of October 31, 2012 · Non-binding translation 

GRUNDBESITZ GLOBAL AT A GLANCE 

Locations of fund properties (number of properties per country) 

6 

1 

North America – 7 properties Asia – 7 properties Europe – 28 properties 

Geographical distribution of the 42 fund properties 

Europe 56.2% 

with 

France 21.5% 

United Kingdom 13.4% 

Poland 4.8% 

Austria 3.8% 

Hungary 3.7% 

Sweden 2.3% 

Other 6.7% 

Sales and Acquisitions in the business year 2012/2013 

Acquisitions 

Country Number Directly held or 

Equity hold in real 

estate comp. 

Total acquisitions 

Sales 

Country Number Sales price 

in million EUR 11 

Total sales 

Asia 25.5% 

with 

China 6.0% 

Japan 17.9% 

Rep. of Korea 1.6% 

USA 18.3% 

Base: Market value 

Net asset value 2,373.2 

Real estate assets (directly hold) 1,434.5 

Holdings in real estate company 1,077.8 

Loans (directly hold) -494.4 

Liquid assets3 422.9 

Other assets4 Fund key data (in million EUR) 

-67.6 

Liquidity5 17,8% 

Leverage6 34,2% 

Occupancy rate7 91,2% 

Investments in foreign currencies8 59,5% 

3 Incl. 5% legal minimum liquidity reserve of 119 million EUR (relative to fund volume) 

4 Balance from other assets and other liabilities 

5 Base: Fund volume 

6 Base: Market value 

7 Leases in relation to annual rental income fully let 

8 Made with currency exchange rate transactions 

Purchase price 


1 

Incidential costs and 

fees in million EUR 

9 According to purchase contract, excluding any charges and rebates on transfer of ownership, benefi t, burden 

10 Including fund fees and all other associated purchase costs 

1 

Type of use of fund properties 

Residential 5.3% 

5 

Archive/storage 1.0% 

Retail 11.8% 

1 

Incidential acquisition 

costs in million 

EUR 10 

Proceeds 

in million EUR 

Errors and omissions excepted. Please regard the additional information and „Important information“ on last page. 

1 

Other = parking, communication systems, appartements etc. Basis: Annual rental income fully let 

Performance unit class RC 

Yearly performance 

6% 

4% 

2% 

0% 

Other 5.7% 

Hotel 2.0% 

0.8% 

5.9% 

2.5% 

Cumulative performance 1 

2.5% 

2.0% 

1 year 3 years 5 years Since inception of the fund (Jul. 25, 2000) 

7 

2.0% 7.1% 16.2% 64.8% 

Ø p.a. 2.0% 2.3% 3.0% 4.2% 

7 

1 

Investment volume 


Profi t 


1 

Net performance* Gross performance 1 

* The net performance includes fund costs as well as an issue surcharge amounting to 5% which relates 

to the purchase and is debited in the fi rst year. Custodian account costs can impair the performance 

additionally. Past performance is not a reliable indicator for future performance. 

1 

2 

1 

3 

3 

Offi ce 74.2% 

11/2007–10/2008 11/2008–10/2009 11/2009–10/2010 11/2010–10/2011 11/2011–10/2012 

2.0% 

2.9% 

2.9% 

2.0% 

Share of portfolio 

Last market value 

acc. to appraisal 


11 Currencies are converted at the exchange rate applicable on the date of transfer. 

12 Inclusive income from reversal of provisions for taxation 

2.0%


GRUNDBESITZ GLOBAL 

(UNIT CLASS RC) 

Issue price 54.36 € 

Repurchase price 51.77 € 

Number of units 45,632,436 

General Fund Data 

Unit Class RC 

RREEF Investment 

Fund issuer 

GmbH 

Fund name grundbesitz global 

ISIN DE 000 9807057 

SIN 980705 

Fund type Open-end real 

estate fund 

Issue date July 25, 2000 

Business year April 1 – March 31 

Fund currency EUR 

Issue surcharge 5.0% 

Admin. of yield Distribution 

Distribution Annually 

Fund charge 1.0% p.a. 8 

(as of October 31, 2012) 

Total expense ratio 1.06% (as of March 31, 2012) 

8 Plus performance related comission of up to 0.1% p.a., 

in accordance with contractual terms 

Plus additional charges in accordance with contractual 

terms 

The Fountains at Moorpark, Moorpark, 

California/USA, apartment building 

Performance net asset value per unit for unit class RC 

55.00 € 

54.50 € 

54.00 € 

53.50 € 

53.00 € 

52.50 € 

52.00 € 

51.50 € 

Overview of distribution performance for the RC Unit Class 

Investment performance 

grundbesitz 

global RC 

(01.04.2002-31.03.2012) 

4.16% p.a. 5.07% p.a. 

converted as a fully 

taxable capital investment 

this equates to 

a comparative pre-tax 

yield at a tax rate3 26.375% 

3 Withholding tax (25%) incl. solidarity surcharge (5.5% on withholding 

tax) 


- For the last ten years distribution comprises a taxexempt 

portion of 60.94% provided the units are held 

in private assets. 

- To achieve an equivalent after-tax distribution level, a 

fully taxable alternative investment (tax rate 26.375% 

domestic withholding tax on capital income incl. 

solidarity surcharge excl. church tax) would have a 

comparative pre-tax return of 5.07% per year. 

Net asset value 2,373.2 2,362.5 

Real estate assets (directly hold) 1,434.5 1,428.0 

Holdings in real estate company 1,077.8 1,072.9 

Loans (directly hold) -494.4 -492.2 

Liquid assets4 422.9 421.0 

Other assets5 Fund key data (in million EUR) Total Unit class RC 

4 Incl. 5% legal minimum liquidity reserve of 119 million EUR (relative to fund volume) 


-67.6 -67.3 

Yield unit class RC 2 

Net asset value RC Asset value RC without distribution 

31.10.11 30.11.11 31.12.11 31.01.12 29.02.12 31.03.12 30.04.12 31.05.12 30.06.12 31.07.12 31.08.12 30.09.12 31.10.12 

Last business year 2011/2012 

(01.04.2011–31.03.2012) 

Real estate yield6 (before deduction of fund costs) 4.6% 

Liquidity yield7 (before deduction of fund costs) 1.8% 

Fund yield1 (BVI Method) 3.2% 

6 In relation to average real estate assets of the direct investments and special purpose vehicles following deduction of borrowed funds 

7 In relation to average liquid assets 

Distribution overview (unit class RC) 

Distribution date as of 12.07.2012 13.07.2011 14.07.2010 

Amount per unit certifi cate 

Tax on earnings – per unit certifi cate, held as: 

1.70 € 1.10 € 1.30 € 

Private asset - taxable 

Commercial asset - taxable 

1.5279 € 0.4224 € 0.4707 € 

Commercial asset - income taxable 0.9310 € 0.3818 € 0.3537 € 

Commercial asset - corporation taxable 0.0358 € 0.3208 € 0.0713 € 

Income tax-exempt for units held as private assets, 

concerning distribution 

10% 62% 64% 

The statements on tax regulations apply only to investors who are fully liable for tax in Germany 

The Helicon, London, Great Britain, offi ce 

building 

G Square, Tokyo, Japan, offi ce and commercial 

building


GRUNDBESITZ GLOBAL 

(UNIT CLASS IC) 

Issue price 54.49 € 

Repurchase price 51.89 € 

Number of units 207,313 

General Fund Data 

Unit Class IC 

RREEF Investment 

Fund issuer 

GmbH 

Fund name grundbesitz global 

ISIN DE 000 A0NCT95 

SIN A0NCT9 

Fund type Open-end real 

estate fund 

Issue date April 1, 2008 

Business year April 1 – March 31 

Fund currency EUR 

Issue surcharge 5.0% 11 

Admin. of yield Distribution 

Distribution Annually 

Fund charge 

(as of October 31, 2012) 

0.55% p.a. of 

average real estate 

assets12 0.05% p.a. of average 

liquid assets12 Total expense ratio 0.43% (as of March 31, 2012) 

11 No issuing premium in the event of compliance with 

the subscription slip procedure described in the sales 

prospectus 

12 Plus performance related comission of up to 20% p.a.of 

the additional proceeds, in accordance with contractual 

terms 

Plus additional charges in accordance with contractual 

terms 

Xiwang Tower, Dalian, China, offi ce building 

Total Unit class IC 

million EUR million EUR 

Net asset value 2,373.2 10.8 

Real estate assets (directly hold) 1,434.5 6.5 

Holdings in real estate company 1,077.8 4.9 

Loans (directly hold) -494.4 -2.2 

Liquid assets3 422.9 1.9 

Other assets4 Fund key data 

-67.6 -0.3 

Liquidity5 17.8% – 

Leverage6 34.2% – 

Occupancy rate7 91.2% – 

Investments in foreign currencies8 3 Incl. 5% legal minimum liquidity reserve of 119 million EUR (relative to fund volume) 


5 Base: Fund volume 

6 Base: Market value 

7 Leases in relation to annual rental income fully let 

8 Made with currency exchange rate transactions 

59.5% – 

Performance unit class IC 

Yearly performance1 Performance net asset value per unit for unit class IC 

Yield unit class IC 2 


6% 

4% 

2% 

0% 

The charts above contains only the performance information as the net performance does not differ from the gross performance in any year 

and an issue surcharge is not charged because of the subscription slip procedure. Custodian account costs can impair the performance additionally. 

Past performance is not a reliable indicator for future performance. 

Cumulative performance1 1 year 3 years 5 years Since inception of unit class IC (Apr. 1, 2008) 

2.4% 8.3% – 15.0% 

Ø p.a. 2.4% 2.7% – 3.1% 

55.00 € 

54.50 € 

54.00 € 

53.50 € 

53.00 € 

52.50 € 

52.00 € 

51.50 € 

2.7% 

2.4% 

11/2007–10/2008 11/2008–10/2009 11/2009–10/2010 11/2010–10/2011 11/2011–10/2012 

Asset value IC Asset value IC without distribution 

31.10.11 30.11.11 31.12.11 31.01.12 29.02.12 31.03.12 30.04.12 31.05.12 30.06.12 31.07.12 31.08.12 30.09.12 31.10.12 

Last business year 2011/2012 

(01.04.2011–31.03.2012) 

Real estate yield9 (before deduction of fund costs) 4.6% 

Real estate yield following deduction of fund costs9 3.7% 

Liquidity yield10 (before deduction of fund costs) 1.8% 

Liquidity yield following deduction of fund costs10 1.8% 

Fund yield1 (BVI Method) 

9 In relation to average real estate assets of the direct investments and special purpose vehicles following deduction of borrowed funds 

10 In relation to average liquid assets 

3.6% 

Distribution overview (unit class IC) 

Distribution date as of 12.07.2012 13.07.2011 14.07.2010 

Amount per unit certifi cate 

Tax on earnings – per unit certifi cate, held as: 

1.90 € 1.30 € 1.45 € 

Private asset - taxable 

Commercial asset - taxable 

1.6234 € 0.3891 € 0.6600 € 

Commercial asset - income taxable 1.0104 € 0.3308 € 0.4645 € 

Commercial asset - corporation taxable 0.0908 € 0.2434 € 0.0082 € 

Income tax-exempt for units held as private assets, 

concerning distribution 

15% 70% 54% 

The statements on tax regulations apply only to investors who are fully liable for tax in Germany 

3.3% 

2.4%


INFORMATION ON REAL ESTATE PORTFOLIO 

Occupancy rate 

100% 

97% 

94% 

91% 

88% 

85% 

Nov 11 Dec 11 Jan 12 Feb 12 Mar 12 Apr 12 May 12 Jun 12 Jul 12 Aug 12 Sep 12 Oct 12 

Top 10 properties (measured at market value) 

Properties Percentage 

Osaka, Uniqlo Building (J) 6.5% 

Dalian, Xiwang Tower (CN) 6.0% 

Tokyo, Nikko Building (J) 5.1% 

Burbank, The Pinnacle (USA) 4.8% 

Paris, Le Monde (F) 4.3% 

Puteaux, Kupka A (F) 4.0% 

London, The Helicon (GB) 4.0% 

London, Queen Victoria Street (GB) 4.0% 

Daly City, Pacifi c Plaza (USA) 3.8% 

St.-Quentin-en-Yvelines, Energies Building (F) 3.1% 

Total 45.6% 

Commercial age structure of fund properties 

More than 20 years old 

16.7% 

15 to 20 years old 

4.0% 


38.6% 

as measured by annual rental income fully let 

Occupancy rate in October 2012 91.2% 

Annual rental income of the fund 

(contractual rent) 

193.7 million € 

Europlaza, Vienna, Austria, offi ce building 

Less than 5 years old 

11.7% 


29.0% 

Basis: Market value 


Mietverträge 

Expiring tenancy 

in Asien 

agreements 

sowie Wohnungsmietverträge in den USA werden 

ortsüblich mit kurzfristiger Laufzeit und hoher Verlängerungswahrschein- 

35% lichkeit abgeschlossen. In der Grafi k wird die Verlängerungswahrschein- 

on exercising special termination rights 

lichkeit 30% nicht abgebildet. Bei Mietverträgen mit Sonderkündigungsrechten 

25% wird das Ziehen des Sonderkündigungsrechtes angenommen. 

20% 

15% 

10% 

5% 

0% 

35% 

30% 

25% 

20% 

15% 

10% 

5% 

0% 

until 

31.12.2012 

until 

31.12.2012 

2013 2014 2015 2016 2017 2018 2019 2020 2021 from 2022 

as measured by current contractual rent of the fund in % 

Europe USA Asia 

without exercising special termination rights 

2013 2014 2015 2016 2017 2018 2019 2020 2021 from 2022 

as measured by current contractual rent of the fund in % 

Lease contracts in Asia and rental agreements for apartments in the USA are 

mainly short-term signed with a high chance for reletting. The chart does not 

show the probability for reletting. 

For lease contracts with extraordinary termination rights, the earliest possible 

termination of the lease agreement is assumed. The presentation without 

consideration of the extraordinary termination rights emphasizes how the 

lease contract terms would be postponed in favour of the contractually 

agreed lease revenues of the fund. 

Top 5 tenancy structure (Basis: current rental income) 

Sectors Percentage 

Technology and software 15.5% 

Consumer goods & retail 14.7% 

Bank and fi nancial service 8.5% 

Media 7.2% 

Consultancy / legal and tax advisory 6.4% 

Total 52.3% 

Enterprise Drive Aliso Viejo, Aliso Viejo, California/USA, offi ce building


KEY DATA OF FUND PROPERTIES 

Additional information on fund properties 

Address Type of use 

Lettable area 

in sqm 

Current appraiserassessed 

market 

value in TEUR 3 

I, Directly held properties in Eurozone countries 4 976,140 

Austria 

1120 Vienna, Am Europlatz 1, 3, 5, ”Europlaza” Offi ce building 27,189 76,980 

1030 Vienna, Rennweg 12, ”Am Belvedere” Hotel 14,767 37,600 

Belgium 

1200 Brussels, Avenue Marcel Thiry 75-77, ”Marcel Thiry” Offi ce building 10,821 16,930 

Spain 

28027 Madrid, Calle Albacete 1, ”Puente de la Paz” Hotel 10,873 27,150 

France 

92320 Châtillon, 125, avenue de Paris, ”Le Prisme” Offi ce building 14,363 79,700 

92110 Clichy, 14–16, rue Marc Bloch, ”Oxygène” Offi ce building 19,272 93,700 

92100 Montrouge, 144–150, avenue Marx Dormoy, ”Plein Sud“ Offi ce building 11,292 54,900 

75013 Paris, 74–84, boulevard Auguste Blanqui, ”Le Monde“ Offi ce building 16,618 130,100 

92800 Puteaux, 18, rue Hoche, ”Kupka A“ Offi ce building 17,563 120,750 

78884 St.-Quentin-en-Yvelines, 1–7, avenue San Fernando, ”Energies Building“ Offi ce building 26,676 94,800 

92150 Suresnes, 13–17, rue Pages 

31–32, rue Verdun, 6–10, rue Gustave Flourens, ”Horizon Défense“ 

Italy 

Offi ce building 16,348 74,600 

00142 Rome, Via Mario Bianchini 13–15, ”Mario Bianchini“ 

Poland 


02-486 Warsaw, Aleje Jerozolimskie 172, 174, 176, 178, ”Kopernik B - E“ Offi ce building 18,833 47,880 

50-365 Wroclaw, Plac Grunwaldski 23, 25, 27, ”Grunwaldzki Center“ Offi ce building 27,753 83,050 

II. Directly held properties in countries with other currencies 

Great Britain 

Edinburgh, 129, 133 Fountainbridge, Edinburgh EH3 9QG 

458,408 

1, 2 Fountainbridge Square, Edinburgh EH3 9QB 

4 Lower Gilmore Bank, Edinburgh EH3 9QP 

127 Fountainbridge, Edinburgh EH3 9QG, ”Edinburgh Quay“ 


Glasgow G2 7NP, 55 Douglas Street, ”Cerium Building“ Offi ce building 7,486 34,827 

London EC4, 60 Queen Victoria Street, ”Queen Victoria Street“ Offi ce building 10,724 119,441 

London EC2, 1 South Place, ”The Helicon“ 

Japan 


Tokyo, 3-16-11 Nishi Shinbashi, Minato-ku, ”ATAGO East Building” 

Republic of Korea 


Seoul, 70 Seorin-Dong, Jongno-Gu, ”Alpha Building“ Offi ce building 9,503 47,378 

III. Properties held through real estate companies in Eurozone countries4 Czech Republic 

247,780 

100% Shares in DB Real Estate II KC s.r.o., Prague 

Property: 14000 Prague 4, Olbrachtova 9, ”Raiffeisen“ 

Hungary 


100% Shares in Rakpart 3 Ingatlanhasznosito Kft., Budapest 

Property: 1054 Budapest, Akademia utca 6, Szechenyi rakpart 3, ”Akademia Bank Center“ 


100% Shares in Mom Park Torony Kft., Budapest 

Property: 1124 Budapest, Csörsz utca 41–45, ”Mom Park“ 


100% Shares in AIAS Ingatlanbefektetési Kft., Budapest 

Property: 1139 Budapest, Váci út 140, ”BC 140“ 

Portugal 

100% Shares in DB Real Estate Investment Madeira Sociedade Imobiliária 


Unipessoal Lda Comandita 

Property: Madeira, 9004-568 Funchal, Estrada Monumental 390, ”Forum Madeira“ 

Poland 

Shopping center 20,279 66,330 

100% Shares in DB Real Estate Polska 2 Spolka z o. o., Warsaw 

Property: 02-486 Warsaw, Aleje Jerozolimskie 180, ”Kopernik A“ 


3 Market values in foreign currencies converted at month’s end rate of exchange 

4 Includes countries with Euro-based tenancy agreements. 


Exchange rate (foreign currency / EUR) 31.10.2012 

Country Exchange rate Currency 

Sweden 8.63486 SEK 

Great Britain 0.80542 GBP 

USA 1.2937 USD 

Japan 102.797 JPY 

Rep. of. Korea 1,412.041 KRW 

China 8.07333 CNY


KEY DATA OF FUND PROPERTIES (CONT.) 

Additional information on fund properties 

Address Type of use 

Lettable area 

in sqm 

Current appraiserassessed 

market 

value in TEUR 3 

IV, Properties held through real estate companies in countries with other currencies 1,340,894 

China 

100% Shares in Dalian Xiwang Building Company Ltd. 

Property: Dalian, Zhongshan District, 136 Zhongshan Road, ”Xiwang Tower“ 

Great Britain 

100% Shares in Huris (Farnborough) Ltd. 

Property: Farnborough, Hampshire GU14 6YU, Areospace Boulevard 

Farnborough Areospace Centre, Building S6 (West Park Two), ”Chester House“ 

100% Shares in Huris (Swindon) Ltd. 

Property: Swindon, SN5 6PE, PHH Centre, ”Windmill Hill Business Park“ 

100% Shares in Huris (Thames Park) Ltd. 

Property: Reading, RG6 1PU, Building 420, ”Thames Valley Park“ 

Japan 

100% Shares in Ryugasaki SC TMK 

Property: Ibaraki, Ryugasaki-shi, Kodori Koyamachi aza Nemoto 288-28, ”Qiz Ryugasaki“ 

100% Shares in RREEF Marble Pte. Ltd. 

Property: Tokyo, 1-14-11 Nishi-Shinjuku, Shinjuku-ku, ”Nikko Building“ 

100% Shares in Unique Osaka LLC 

Property: Osaka, 1-2 Shinsaibashi-suji, Chuo-ku, ”Uniqlo Building“ 

100% Shares in G Square Tokyo LLC 

Property: Tokyo, 2-11-1 Dogenzaka, Shibuya-ku, ”G Square“ 

Sweden 

100% Shares in DB Real Estate Mvik 28 KB, Stockholm 

Property: 117 43 Stockholm, Arstaängsvägen 19 A-F, ”Marievik 28“ 

USA 

100% Shares in DBRE California Residential 2 LLC 

Property: Apartments ”Natomas Ridge“ 

2025 West EI Camino Avenue, Sacramento, CA 95833 

100% Shares in DBRE One Enterprise L.L.C., Delaware 

Property: Aliso Viejo, Kalifornien 92656, 1 Enterprise Drive, ”Aliso Viejo“ 

95% Shares in DB Real Estate The Pinnacle, L. P., Delaware 

Property: Burbank, Kalifornien 91505, 3400 West Olive Avenue, ”The Pinnacle“ 

100% Shares in DB Real Estate Pacifi c Plaza, L. P., Delaware 

Property: Daly City, Kalifornien 94014, 1901 und 2001 Junipero Serra Boulevard, ”Pacifi c Plaza“ 

100% Shares in DBRE Moorpark L.L.C., Delaware 

Property: Moorpark, Ventura County, Kalifornien 93021, 51 Majestic Court, 

”The Fountains at Moorpark“ 

100% Shares in DBRE Roosevelt Commons L.L.C., Delaware 

Property: Seattle, Washington 98015, 4300 Roosevelt Way NE/ 4311 11th Avenue NE, 

”Roosevelt Commons“ 

100% Shares in DB Real Estate Crossroads L. P., Delaware 

Property: Sunnyvale, Kalifornien 94085, 950 und 1000 West Maude Avenue, „Crossroads Center“ 








Offi ce and 

commercial building 

5,013 74,613 


Residential 54,372 51,673 


Offi ce and 

commercial building 

36,583 144,912 


Residential 30,488 54,108 



I, + II, Market value of directly held properties 1,434,548 

III, + IV, Market value of properties held by holding companies 1,588,674 

Total: Market value of all properties 3,023,222 

3 Market values in foreign currencies converted at month’s end rate of exchange 


Exchange rate (foreign currency / EUR) 31.10.2012 

Country Exchange rate Currency 

Sweden 8.63486 SEK 

Great Britain 0.80542 GBP 

USA 1.2937 USD 

Japan 102.797 JPY 

Rep. of. Korea 1,412.041 KRW 

China 8.07333 CNY

Fund Profile grundbesitz global as of October 31, 2012 · Non-binding translation 

RREEF Investment GmbH 

Mainzer Landstraße 178–190 

60327 Frankfurt am Main 

Internet: www.rreef.com 

* Provides sales support services for RREEF Investment GmbH. 

Opportunities 

Important information: 

Further information obtainable at: 

DWS Investment GmbH * 

60612 Frankfurt am Main 

Telephone: +49 (0) 69 / 7 19 09-23 89 

Fax: +49 (0) 69 / 7 19 09-90 90 

Internet: www.dws.de 

E-mail: info@dws.com 

Return in taking advantage of the respective market development 

of the global real estate markets 

Broadly diversified real estate portfolio through diversification: 

- in several regions (global) 

- in different sectors (Office, retail, others) 

Benefit from the professional real estate managers of the particular 

local RREEF entity 

Regular distribution with tax-exempt portion 

Rental revenues calculable in the long term may contribute to 

reduce volatility of the unit price 

This profile of the open-end real estate fund grundbesitz global is only a brief presentation and does not constitute investment counselling. 

In any event, an investment decision should be made based upon the key investor information and the sales prospectus in addition to the 

last annual report or the semi annual report which is more recent as the last annual report. These documents represent a sole basis for the 

purchase. The documents are available in printed form at branches of Deutsche Bank or from DWS Investment GmbH, Mainzer Landstraße 

178–190, 60612 Frankfurt am Main (provides sales support services for RREEF Investment GmbH) as well as in electronic form from 

www.rreef.com. The sales prospectus contains detailed information on the risks related to the products. 

This profile of the open-ended real estate fund grundbesitz global is only a non-binding translation of the German original. Should there be 

discrepancies between this English version and the German one, the German version shall be decisive. 

1 Gross performance in accordance with the BVI method, including costs incurred by the fund such as management fee. Individual costs such as 

issue surcharges and custodian account costs are not taken into consideration. Past performance is not a reliable indicator for future performance. 

2 Fund key data, Complementary Fund key data and Yield until 31.03.2012 are certified by an auditor. The data starting from 01.04.2012 are 

preliminary. RREEF Investment GmbH does not take any guarantee for rightness. 

Risks 

Dependency on the development of the respective real estate 

markets 

Liquidity risk, i.e. no redemption of fund units at the favoured 

time and the risk for the investor to not being in the position to 

dispose of the invested capital for a certain period of time. 

The fund unit value may drop below the purchase price, for 

which the customer had originally acquired the fund unit, at 

any point in time due to: 

- Letting and valuation risks 

- Interest rate risks 

- Currency exchange risks 

- Risks caused by currency exchange rate transactions 

Higher risks for planned investments in less transparent real 

estate markets (emerging markets, Asia) 

Due to new legal regulations contained in the Investment Law, new contractual terms will apply for grundbesitz global starting on the 

1 st of January 2013. Following this transition of the contractual terms, the investor will still be able to return fund units of grundbesitz 

europa up to a value of 30,000 Euro per calendar half-year on every trading day. In the future, the return of fund units with a value of 

more than 30,000 Euro per calendar half-year are subject to an irrevocable return term of 12 months. The general risk of a suspension 

of fund unit repurchases by the capital investment company (e.g. in case of unexpected high cash outflows) also exists for these fund 

units.

FUND PROFILE grundbesitz global - RREEF Real Estate

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