RREEF Property Trust, DWS Group’s publicly registered daily NAV REIT, has acquired Providence Square, a five-building urban shopping center in suburban Atlanta.
The deal also includes a free-standing restaurant, subject to a ground lease.
The acquisition increases RREEF Property Trust’s assets under management to more than $325 million and further diversifies the fund’s private real estate holdings based on sector, geography and tenant base.
The property, built in 1990 and renovated in 2015, spans 222,805 square feet and is anchored by three large retailers: Sprouts Farmers Market, TJ Maxx/HomeGoods and Home Depot.
Providence Square sits in the town of Marietta, Ga., approximately 15 miles north of the Atlanta metro area within the North Cobb County submarket. The property is strategi
