RREEF Property Trust Acquires Anaheim Office Building

Non-traded, daily NAV REIT, RREEF Property Trust, announced yesterday that it has acquired Anaheim Hills Office Plaza of Orange County, California for $18.5 million, exclusive of closing costs.

The three-story, Class A office building is located at 160 North Riverview Drive in Anaheim on a 4.1 acre site. Just 15 miles north of John Wayne International Airport, the location offers direct access to CA-91 and easy access to the regional freeway system. Constructed in 2008, the 73,892 square foot property is 100% leased to three tenants: Gateway One Lending and Finance L.L.C., Raytheon Applied Signal Technology, Inc., and AS Real Estate Holding L.L.C.

“The acquisition of Anaheim Hills Office Plaza provides stable near term income and geographic diversification into California for the Company,” said Todd Henderson, Chairman of the Board of RREEF Property Trust and Head of Real Estate, Americas at Deutsche Asset & Wealth Management. He added, “We are pleased to add this institutional-quality property to the RREEF Property Trust portfolio. Anaheim Hills Office Plaza is one of the newest office buildings in North Orange County and, while providing near term income, the opportunity exists to grow NOI as the Orange County office market continues to recover.”

The REIT funded the acquisition with existing capital and by borrowing $14,700,000 under its credit facility with Regions Bank. $4,570,000 of the amount borrowed is from existing borrowing capacity on previously acquired properties, while $10,130,000 is specific to this property.

Launched in 2012, RREEF Property Trust is continuously offered with a maximum offering size of $2.5 billion. The company utilizes a blended strategy that includes real estate, traded real estate securities, real estate-related debt and cash equivalents.