RREEF Property Trust Redemptions Capped at 32% for July

RREEF Property Trust fulfilled only 32% of July redemption requests due to exceeding the monthly limit, while reporting slight NAV per share increases across various classes.

August 08, 2024

RREEF Property Trust Inc., a publicly registered daily NAV real estate investment trust advised by DWS Group, has released its updated NAV per share for July 2024. During the month, the REIT received redemption requests surpassing its 2% monthly limit. Consequently, each stockholder received approximately 31.9% of their redemption request on a pro rata basis.

The REIT’s board revised the share redemption plan on June 21, effective July 1, limiting redemptions to 2% of the company’s combined NAV per month and 5% per quarter. Redemptions are priced based on the NAV per share at least 10 days before the redemption date.

As of July 31, 2024, the NAV per share for each class was:

- Class A shares: $13.45, up 0.22% from $13.42 on June 28
- Class I shares: $13.54, up 0.22% from $13.51
- Class T shares: $13.57, up 0.15% from $13.55
- Class D shares: $13.56, up 0.22% from $13.53
- Class M-I shares: $13.46, up 0.22% from $13.43
- Class T2 shares: $13.40, up 0.22% from $13.37
- Class N shares: $13.47, up 0.3% from $13.43

Class A shares are open to the public, Class I shares are available through fee-based programs and institutional investors, and Class D shares are offered via private placement. Class N and T shares are only accessible through the REIT’s distribution reinvestment plan.

For July 2024, the company declared gross distributions of about $0.07 per share, payable on August 2 to shareholders of record on August 1.

RREEF Property Trust primarily invests in income-generating commercial real estate in the United States, including office, industrial, retail, and residential properties. It also invests in REIT common and preferred stock, other real estate companies, and real estate-backed debt. Since January 2013, the REIT has raised approximately $385.4 million through a series of public and private offerings.