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LONDON-RREEF Spezial Invest GmbH, a subsidiary of RREEF Alternative Investments, has spent nearly $142 million on the purchase of three buildings. According to an article in PropertyEU, the properties are in London and Paris.

In London, RREEF now owns 25 Moorgate, an office building containing 73,195 square feet of office space and 7,535 square feet of restaurant space. The property, previously owned by Grosvenor London Office Fund sold for roughly $78 million.

RREEF also purchased a logistics center outside the city. The 236,806-square-foot building is leased and managed by DHL Corp., a fresh produce company. Aviva Investors sold the building for $26 million.

The Paris property is an office building located in the LA Defense office district. GE Real Estate sold the 67,813-square-foot property for about $36 million. The fully-occupied building was built in 1988 and then renovated in 2005 and 2007. <p."European office and logistics properties in good locations and of medium size are ideal investments for our special funds," says Georg Allendorf, a managing director at RREEF, in the report. "The current market conditions present excellent opportunities for us to obtain high quality properties for our clients at competitive pricing."

To read the full PropertyEU report click here.

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