RREEF picks Transwestern to manage FL portfolio

MIAMI - Transwestern recently announced that it has been selected by RREEF to take over the property management of 3,393,394sf of its Florida portfolio, which RREEF owns on behalf of its institutional clients.

Prior to the selection of Transwestern, the majority of the properties had been managed directly by RREEF, which is transitioning out of third-party management, but will continue as the asset manager.

The portfolio includes notable industrial and office properties throughout the state, such as:

- 420 South Congress Ave., a 205,624sf industrial park in Delray Beach.

- Beacon Centre, a 422,566sf industrial park in Doral.

- Aventura Business Park, a 204,876sf industrial park in Miami.

- Center of Commerce I & II, a 1,252,768sf industrial park in Orlando.

- Florida Industrial Portfolio, a 507,161sf industrial park in Riviera Beach.

- Hampton Oaks, a 259,042sf industrial park in Tampa.

- 255 Alhambra, a 220,174sf office building in Coral Gables.

- Town & Country Corp Center, a 118,727sf office building in Miami.

- Sawgrass & Spectrum Office, a 202,456sf office building in Sunrise.

The transition of the portfolio to Transwestern is expected to be completed by the end of 2009.