Deutsche Bank's asset management arm is also moving to liquidate and dissolve its US-focused non-traded REIT, RREEF Property Trust.
The deal marks the trust's fourth acquisition with Sterling Organization in 2026 and brings its portfolio to 13 properties.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
We highlight the investment strategy, share class structure, and other details of the non-listed perpetual-life debt REIT.
BXPE US sold $527.9 million in LP interests on September 1, while its feeder raised $166.4 million, alongside subscriptions to other program vehicles.
The investment was made through a joint venture with specialized real estate investment firm the Sterling Organization.
The firm also provided updates on its private equity evergreen fund and non-traded BDC, as well as plans to launch new products targeting the wealth segment.
The trust repurchased approximately $120 million of outstanding shares in Q1, representing around 1.5% of its $8.1 billion March NAV.
Launched in October 2025, IREX IV Industrial Portfolio DST consists of three industrial properties across Florida and North Carolina.
In March, the $22 billion non-traded fund was the target of an unsolicited tender offer from Saba and Cox Capital at a steep discount.
