Rreef to Sell Mountain Pacific Buildings

BELLEVUE, WA-Pacific Real Estate Partners, which leases the project on behalf of Rreef, has been asked by the real estate investment trust to sell the site, which could fetch as much as $20 million.

By Brian K. Miller | Updated on August 30, 2000

Rreef Securities Trust Real Estate Securities Fund is unloading its Mountain Pacific Project buildings along Northup Way.

Pacific Real Estate Partners, which leases the project on behalf of RREEF, has been asked by the real estate investment trust to sell the site, according to reports. RREEF bought the twin brick buildings (90,000 sf) from pension fund advisor All-America Realty Advisor in 1997.

Now, as a matter of shifting its portfolio allocations, the company is ready to sell. Broker speculation is that the project could bring Rreef $20 million.

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