RREEF is moving forward with its sale of a twenty-building portfolio it acquired as part of a larger 120 building portfolio from Peery Arrillaga two years ago. RREEF was reported to be seeking $250 psf for the portfolio, but we’ve heard the price is coming in well below that mark, somewhere around $200 per foot.

The portion of the portfolio being sold is concentrated in Sunnyvale along 237, and represent leased investments. The deal is expected to close sometime in early September.

UPDATE (07/23): Globe Street is reporting the sale at $185 psf ($74M) to DRA Advisors/Landmark Asset Management Group.