Home Alts News RREEF Property Trust Inc. Modifies Redemption Policy

RREEF Property Trust Inc. Modifies Redemption Policy

RREEF Property Trust Inc. (NASDAQ: ZRPTAX; ZRPTIX; ZRPTTX, ZRPTMX, ZRPTUX), a non-traded real estate investment trust sponsored by DWS Group, announced that as of Dec. 9, 2022, their board of directors modified the share redemption plan to limit redemptions during the fourth quarter of 2022 to 5% of the company’s combined NAV as of Sept. 30, 2022.

Previously, the company limited redemptions to 5% of its combined NAV every quarter, but the company allowed unmet redemptions to roll into the next quarter, allowing redemptions to equal as much as 10% of NAV in a given quarter.

RREEF’s board of directors determined that the modification makes their share redemption plan consistent with the liquidity of the share redemption plans of other public, non-listed REITs such as Starwood Real Estate Income Trust, which is sponsored by Starwood Capital Group, and Blackstone Real Estate Income Trust Inc., which is sponsored by private equity giant The Blackstone Group (NYSE: BX).

As reported by The DI Wire, the company recently acquired a 100% interest in the Class D Certificate and the related interest-only securities of a fixed rate Freddie Mac Multifamily CMBS Securitization for a total investment of $30.9 million.

RREEF Property Trust invests primarily in income-producing commercial real estate located in the United States, including office, industrial, retail and apartment properties. The REIT also invests in the common and preferred stock of REITs and other real estate companies and debt investments backed principally by real estate.

The company launched its initial public offering in January 2013 and has since launched a series of public follow-on and private offerings that have raised a total of approximately $360.8 million in investor equity as of Sept. 30, 2022.

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