RREEF Property Trust acquires North Seattle's Wallingford Plaza
RREEF Property Trust has acquired Wallingford Plaza, a mixed-use retail and office property in North Seattle, for approximately USD12.75m 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," says Todd Henderson, chairman of the board of RREEF Property Trust and head of real estate, Americas at Deutsche Asset & Wealth Management.
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