16 Aug 2012
Rreef Adds to Its Collection On Queen Anne
Rreef, one of the world’s largest real estate investment companies, is all in on Queen Anne.
The company is financing construction of a mixed-use project there with a Trader Joe’s below 108 apartments, and last week it paid $19.3 million for Seven Hills, a nearby apartment project with commercial space. This all follows Rreef’s $44 million purchase last year of two similar projects nearby.
The four projects make up the Collection on Queen Anne. Emerald Bay Equity of Seattle is developing the 306,000-square-foot collection in the heart of the retail district on Queen Anne Avenue North, between Boston and Howe streets.
The four-to-five-story Trader Joe’s project has been in the works for years. It is going up on the site of the former Metropolitan Market, and will have 28,000 square feet of retail and an underground garage with almost 200 stalls in addition to the apartments. Trader Joe’s will move from its current Queen Anne store into 15,000 square feet. (DJC) READ MORE…