TEL AVIV (Reuters) - German asset manager DWS Group (DWSG.DE) said on Tuesday it has entered into a strategic partnership with and become a minority shareholder in Skyline AI, a real estate asset management technology company.
Financial details were not disclosed.
Skyline AI uses artificial intelligence to analyze, acquire, manage and sell institutional-grade real estate investment opportunities throughout the United States.
DWS’s real estate research team and Skyline AI’s data scientists will collaborate to further develop Skyline AI’s technology.
“This is another step in our strategy to leverage DWS product capabilities to the benefit of our clients and make investments where we see opportunities to create value,” Pierre Cherki, board member and co-head of the investment group at DWS, said.
Founded in 2017, Skyline AI has offices in New York and Tel Aviv. It is backed by Sequoia Capital, JLL (JLL.N), Nyca Partners, TLV Partners and others.
Reporting by Tova Cohen