RREEF Raises $11.4 Million in Private Offering Issuance
June 29, 2021 | James Sprow | Blue Vault
Between March 31, 2021, and June 25, 2021, RREEF Property Trust, Inc. completed the sale of 772,053 shares of its Class D common stock for an aggregate purchase price of approximately $11,380,000. The sale of such Class D Shares was made in connection with the Company’s private offerings of Class D shares (i) to accredited investors, which is exempt from the registration provisions of the Securities Act of 1933. DWS Distributors, Inc., the dealer manager for the Company’s continuous public offering, also serves as the placement agent for the registrant’s Class D Private Offerings, but received no compensation in connection with the transactions described herein.
As a point of reference, the REIT issued had proceeds in Q1 2021 of $5.523 million through the issuance of common stock of all classes and DRIP proceeds during the quarter of $1.374 million. Stock redemptions totaled $3.849 million during the quarter, for net capital raised after redemptions of $3.048 million. Net cash provided by financing activities during the quarter were negative $2.172 million.
Source: SEC
