LODAS Markets, an operator of a web-based marketplace for the secondary trading of illiquid real estate and alternative investments formerly known as Realto Inc., announced that RREEF Property Trust shares are now available for trading on its platform.
RREEF’s parent company is DWS, which is majority owned by Deutsche Bank. RREEF currently invests in buildings, hotels, retail centers and industrial facilities and current net asset value is about $329 million.
Last month, RREEF announced that the company’s redemption requests exceeded its quarterly limit of 5% of net asset value for the third quarter of 2023 as of July 24, 2023. The company also received an excess of the 5% limit of share redemption requests during the second quarter of 2023, first quarter of 2023 and fourth quarter of 2022.
“We’re excited to add RREEF Property Trust to the LODAS platform to offer its investors liquidity in the secondary market,” said LODAS chief executive officer Brian King. “This is the latest in a series of 2023 LODAS milestones as we provide institutions and individuals the opportunity to easily trade non-listed REITs and similar alternative securities.”
“With more than $2 billion of institutional trading interest on the platform, including $1 billion in BREIT alone, we are well positioned for further growth,” King said. “In the coming weeks and months, we expect to announce additional partnerships to spur that growth as we continue to serve the liquidity needs of investors.”
Second quarter data provided by FINRA shows LODAS as the third-largest alternatives market operator in the US, trailing only two long-standing entities: OTC Markets and NYSE Arca. Nearly 1.35 million shares were executed on LODAS in the period, including the first secondary market trades in the history of the Blackstone Real Estate Investment Trust, which has an NAV of $68 billion.