To manage their real properties around the globe, Deutsche Bank created a centralized real estate function that was organized regionally. With the help of VFA, a British facilities planning and management company whose U.S. headquarters is located in Boston, Deutsche Bank overhauled its real estate strategy. Instead of just managing costs associated with real estate decisions, reacting to business unit demands and reducing spending, the bank took a tactical approach to real estate decisions that ultimately increased the company’s efficiency and ability to support growth. The objectives of the new, centralized system included initiating globally-consistent corporate real estate plans, creating data-supported assessment and investment strategies, providing accurate information on development costs and risk, and enabling a coordinated approach to strategic planning.
