RREEF Property Trust, Inc. announced today its acquisition of
Wallingford Plaza, a mixed-use retail and office property in North
Seattle, for approximately $12,750,000, exclusive of closing costs.
Wallingford Plaza is a 30,761 square foot, three-story building located
between two major arterials, l-5 and Highway 99, which offer convenient
access to downtown Seattle, Puget Sound, the University of Washington,
Fremont and South Lake Union.
“We are pleased to announce the acquisition of this property, which is
consistent with our focus on investing in assets that we expect to
deliver predictable rental income and appreciation over time,“ said Todd
Henderson, Chairman of the Board of RREEF Property Trust and Head of
Real Estate, Americas at Deutsche Asset & Wealth Management.
RREEF Property Trust
RREEF Property Trust is a publicly registered, non-traded, daily NAV
company that intends to qualify as a real estate investment trust. RREEF
Property Trust employs a blended strategy that includes commercial real
estate, publicly-traded real estate securities, real estate-related debt
and cash and cash equivalents. RREEF Property Trust targets investments
in income-producing properties with established cash flow and the
potential for value appreciation. RREEF Property Trust focuses primarily
on U.S. commercial real estate assets selected from the industrial,
retail, office and multifamily sectors. RREEF Property Trust maintains a
website at www.rreefpropertytrust.com.
RREEF America L.L.C. is the sponsor and advisor of RREEF Property Trust.
RREEF America L.L.C., together with its affiliates in Europe and Asia
comprise the global real estate investment business of Deutsche Asset &
Wealth Management (formerly RREEF Real Estate), a division of Deutsche
Bank A.G., or Deutsche Bank. I-033588-1.5
Copyright Business Wire 2013