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A real estate fund run by a Deutsche Bank subsidiary took a nearly 10% haircut on its recent sale of the Marela Apartments southwest of Fort Lauderdale. 

Abacus Capital Group paid $110M for the 368-unit, garden-style apartment complex in Pembroke Pines, or around $299K per unit. The seller was an entity controlled by RREEF Property Trust, which is run by DWS Group, an independent asset management firm majority owned by Deutsche Bank.

The trust paid $121M for the 21-acre property in August 2021, property records indicate. The latest sale was confirmed by records from property intelligence platform Vizzda.