(Mark Your Calendars: RealShare Apartments 2011, October 20 in Los Angeles).
SEATTLE-RREEF, the real estate investment business of Deutsche Bank’s Asset Management division, RREEF America REIT II, has acquired Eden Hill and Sweetbrier, two multifamily properties in Seattle for $44 million. GlobeSt.com learns that the seller of both properties was Emerald Bay Equity.
Eden Hill and Sweetbrier are two four-story multifamily/retail properties located at 1925-2111 Queen Anne Ave. N. in the amenity-rich Queen Anne submarket of Seattle. The properties, which were completed between 2008 and 2009, are comprised of 81 apartment units and 27,000 square feet of street level retail.
RREEF owns three multifamily apartments in greater Seattle and owns more than 8 million square feet of commercial properties throughout Seattle and the surrounding suburbs.
As GlobeSt.com previously reported, RREEF America REIT II has been busy buying multifamily properties. It recently acquired the 40-story Cityfront Place apartment tower in Chicago for $107 million.
“We are confident that our regional asset management team’s collective expertise and knowledge of the multifamily markets in Chicago and Seattle will benefit the residents of Cityfront Place, Eden Hill, Sweetbrier, and our investors,” says Kevin Howley, portfolio manager for RREEF America REIT II. “The high standards to which Eden Hill and Sweetbrier were constructed and our plans to further renovate and enhance the operational efficiencies of Cityfront Place, combined with our expectation that market fundamentals will continue to improve in each of these premier markets, present compelling investment opportunities for our investors.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
