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DALLAS-Rreef, acting for a large public pension fund, has outbida bevy of buyers for a class A infill portfolio, which came tomarket with 480,583 sf in four shopping centers and traded as apackage of three. The one drop-off most likely will return tomarket in the first quarter.

Still, the San Francisco-based Rreef got 433,065 sf of99.9%-leased retail space from Direct Development of Dallas. Thecaliber of properties in the package, tied to differentpartnerships at sale time, was one of the most closely watchedtrades since its market debut in July. Rreef has locked down theprice, but sales of comparable assets have been trading for $130per sf to $150 per sf. When it hit the market, its broker, ChrisCozby, principal with Dallas-based Trammell Crow Co., valued theentire package at $120 million to $125 million but Rreef vicepresident Brad Gries says it sold for significantly less than thecampaign push. For previous story, click here.