RREEF chief tells Reuters not bidding for ING’s real estate unit

Reuters clients heard exclusively on Sep 27 that the global head of RREEF, the real estate investment arm of Deutsche Bank, he had looked at buying ING’s real estate arm but decided not to take part in a bid, sending ING shares lower. The sale of ING Real Estate, the world’s largest real estate investment manager by assets, is being intensely watched by investment management clients, and the Reuters interview was first to cite the intention of RREEF – the world’s fourth-biggest real estate manager by assets. The story was among the top three most clicked on that day on reutersrealestate.com — the Reuters dedicated service for real estate industry professionals. The Reuters story was cited by JP Morgan and TD Waterhouse in their research notes to clients, and shares of ING, which were trading near its day-high up 1.2 percent, began paring the gains after the Reuters story, before ending down 1 percent, underperforming the broader Amsterdam Index which closed flat.