BERKELEY, CA—Deutsche Asset & Wealth Management‘s real estate investment business has acquired Parker Place in Berkeley, CA, on behalf of one of its institutional clients.

Located in the highly-desirable Oakland/Berkeley submarket, Parker Place is a mixed-use development of 155 luxury multifamily units atop ground-level retail space. It is a joint venture with Lennar Multifamily Communities. Given the difficulty in obtaining development entitlements, once completed Parker Place will be one of a select few purpose-built, institutional-quality luxury multifamily assets.

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