Deutsche Bank to take space in Ormsby Three
posted: 6/8/2007

Business First of Louisville - June 8, 2007

by Ed Green, Business First Staff Writer

Deutsche Investment Management Americas Inc. has found ample space to open and expand its investment operations in Louisville.

The firm has leased nearly 13,000 square feet at Faulkner Real Estate Corp.'s new Ormsby Three building, according to Ted Meyer, director of media relations for Deutsche.

The 150,000-square-foot building is in the Forest Green Corporate Office Park, near the intersection of North Hurstbourne Parkway and Dorsey Lane.

Deutsche is the fourth tenant in the six-story, $25 million building, which opened in January.
The Federal Aviation Administration, which consolidated its operations from several other sites earlier this year, occupies about 36,000 square feet.

Other tenants are Colonial Supplemental Insurance of Kentucky Inc., which leases 2,700 square feet, and AXA Advisors LLC, which occupies 5,700 square feet.

Steve Higdon, executive vice president of commercial lending, sales & marketing with Faulkner Real Estate, said the space for Deutsche should be ready for occupancy in about 75 days.

In the meantime, the company is temporarily leasing about 5,000 square feet in the neighboring Ormsby Two office building.

Higdon said it was quite a coup to land Deutsche, which is making its first foray into the market.

"For that brand to come into Kentucky and to pick our building ... absolutely validates the type of product that we build," he said.

Staffing expected to grow Initially, Deutsche will have about 15 employees at the site, Meyer said. They will help manage institutional investments for the New York City-based firm.

The new space gives the company plenty of room to grow in this market, Meyer said. The office eventually is expected to have about 60 investment professionals and support staff. The firm continues to hire asset managers and other investment professionals to support the operation, Meyer said.

He declined to disclose the amount of assets that will be managed from the Louisville office but said employees will be involved in managing various stable-value and fixed-income investments for the firm, which has a total of about $700 billion in assets under management worldwide.