A US real estate investment trust managed by Deutsche Bank's asset manager DWS plans to sell all assets and liquidate due to persistent challenges in the asset class. RREEF Property Trust, with a net asset value of $203 million at end-June, experienced 'a period of heightened redemption activity' and faced 'challenges of attracting new capital,' CEO Todd Henderson said. The wind-down requires stockholder approval and a special meeting.

The fund invested in US properties—apartments, retail real estate, and warehouses—which have been an ongoing headache for Deutsche Bank. RREEF was an early net-asset value REIT, allowing shares to be bought and redeemed based on holdings' value. Fundraising lagged before 2022 interest rate hikes made US real estate less appealing.

The fund had net outflows in 14 of the past 15 quarters. 'It never got traction,' said Michael Covello, executive managing director at Robert A. Stanger Co. 'They're doing the right thing by investors to liquidate and return capital.'.