STERLING, VA—RREEF Property Trust announced it has acquired Loudoun Gateway I, a 102,015 square-foot office that is fully leased, for $21.95 million, from Sun Life Assurance Co Canada. This is RREEF Property Trust's first acquisition in the area, since it formed as a REIT three years ago

Loudoun Gateway I will roughly two miles away from the proposed metro stop on the Silver Line's Phase II extension.

RREEF Property Trust picked this building because of the area – it has shown a "consistent ability" thanks to federal agencies "to absorb space in the area, according to Board Chairman Todd Henderson, who is also the Head of Real Estate of Americas at Deutsche Asset & Wealth Management. The building also has the potential for an attractive income return given the purchase price and long-term lease in place, he also said.

RREEF Property Trust is, based on its relatively short history, a slow and careful acquirer of properties. As of September 30, 2015, it owned five commercial properties with thirteen tenants and one student housing property with 316 beds, according to a SEC filing.

In September of 2014, it reported that it owned four commercial properties with eleven tenants.

The five properties it owns, not counting the newly-acquired building in Northern Virginia are Terra Nova Plaza in Chula Vista, CA; Anaheim Hills Office Plaza in Anaheim, CA; Commerce Corner, Logan Township, NJ; Heritage Parkway in Woodridge, IL and Wallingford Plaza in Seattle, WA.

Sitework began on the Loudoun Gateway Station's North Pavilion this September. HFF brokered the sale.