DWS Group, the asset management arm of Deutsche Bank, has entered into a strategic partnership with and has become a minority shareholder in Skyline AI, a real estate asset management technology company.
Skyline AI uses proprietary artificial intelligence to source, analyze, acquire, manage and sell institutional-grade real estate investment opportunities throughout the United States.
The partnership is designed to allow DWS to build on its experience in the real estate investment management space through the machine learning capabilities of Skyline AI, the company said in a statement. In addition, DWS’s real estate research team and Skyline AI’s data scientists will collaborate to further develop Skyline’s proprietary technology.
“This is another step in our strategy to leverage DWS product capabilities to support our clients and make investments where we see opportunities to create value,” said Pierre Cherki, DWS board member and co-head of the investment group at DWS. “Collaborating with an early stage company that uses AI to bolster efficiency and enhance the real estate investment process supports our overall aim of pursuing value for our clients through comprehensive and innovative investment strategies.”
Skyline AI is backed by Sequoia Capital, Jones Lang LaSalle (NYSE: JLL), Nyca Partners, TLV Partners and others. The company has offices in New York and Tel Aviv.
“[DWS’s] expertise and long-standing real estate investment operations create a good climate for our technology to thrive, said Guy Zipori, co-founder and CEO of Skyline AI. “The commercial real estate market is on the cusp of a seismic change, and those who are agile enough to adopt new strategies and technologies are going to shape the new economic reality.”
DWS Group GmbH & Co. KGaA (DWS) is a leading asset manager with €692 billion of assets under management, as of 30 September 2018. Additionally, an investment affiliate of DWS sponsors RREEF Property Trust, a publicly registered non-traded REIT.