| SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION |
RREEF PROPERTY TRUST, INC. SCHEDULE III Real Estate and Accumulated Depreciation December 31, 2025 (in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Initial cost (A) | | | | Gross Amount at Which Carried at December 31, 2025 (B) | | | | | | | | | | Property Name | | Encumbrance | | Land | | Buildings & Improvements (F) | | Capitalized Cost Subsequent to Acquisition / Impairment | | Land, Buildings & Improvements Total (C) | | Accumulated Depreciation and Amortization (D) | | Date Constructed | | Date Acquired | | Depreciable Lives | | | | | | | | | | | | | | | | | | | | | Wallingford Plaza, Seattle, WA, Mixed-Use (Office over Retail) | (H) | $ | 6,353 | | | $ | 3,713 | | | $ | 9,015 | | | $ | 712 | | | $ | 13,440 | | | $ | (3,637) | | | 1916 | | 12/18/2013 | | 5 - 40 | | Commerce Corner, Logan Township, NJ, Industrial | (E) | 51,560 | | | 3,397 | | | 16,353 | | | 28,003 | | | 47,753 | | | (7,305) | | | 1998 | | 4/11/2014 | | 5 - 40 | | | | | | | | | | | | | | | | | | | | | Shops at Terra Nova Plaza, Chula Vista, CA, Retail | (E) | 15,112 | | | 10,628 | | | 11,222 | | | 1,139 | | | 22,989 | | | (2,370) | | | 1986 | | 10/2/2014 | | 5 - 40 | | The Flats at Carrs Hill, Athens, GA, University of GA Student Housing | (G) | 25,500 | | | 3,057 | | | 23,856 | | | 3,297 | | | 30,211 | | | (12,240) | | | 2013 | | 9/30/2015 | | 5 - 27.5 | | Loudoun Gateway I, Sterling, VA, Office | (E) | 11,628 | | | 2,042 | | | 19,908 | | | 76 | | | 22,026 | | | (14,068) | | | 1998 | | 12/21/2015 | | 5 - 40 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Elston Plaza, Chicago, IL, Retail | (I) | 16,107 | | | 17,767 | | | 11,029 | | | 179 | | | 28,974 | | | (3,717) | | | 1983 | | 12/31/2018 | | 5 - 40 | | Providence Square, Marietta, GA, Retail | (J) | 29,700 | | | 9,742 | | | 45,319 | | | 462 | | | 55,523 | | | (14,086) | | | 1990 | | 9/16/2019 | | 5 - 40 | | Seattle East Industrial, Redmond, WA, Industrial | (K) | 45,140 | | | 50,692 | | | 30,946 | | | — | | | 81,638 | | | (7,455) | | | 2013 | | 12/17/2019 | | 5 - 40 | | The Glenn, Centennial, CO, Residential | (L) | 66,000 | | | 10,309 | | | 118,330 | | | 1,758 | | | 130,397 | | | (22,703) | | | 2018 | | 11/19/2021 | | 5 - 27.5 | | Total Investments in Real Estate | | $ | 267,100 | | | $ | 111,347 | | | $ | 285,978 | | | $ | 35,626 | | | $ | 432,951 | | | $ | (87,581) | | | | | | | |
(A) The initial cost to the Company represents the original purchase price of the property. (B) The aggregate cost of real estate owned at December 31, 2025 for federal income tax purposes was approximately $439,569 (unaudited). | | | | | | | | | | | | | | | | | | | | | | | | | (C) | Reconciliation of real estate owned for the years ended December 31: | | 2025 | | 2024 | | 2023 | | Balance at January 1 | | $ | 459,336 | | | $ | 444,639 | | | $ | 492,862 | | | Acquisitions | | — | | | — | | | — | | | Dispositions | | (31,587) | | | (4,774) | | | (52,587) | | | Additions | | 5,202 | | | 19,471 | | | 4,364 | | | Balance at December 31 | | $ | 432,951 | | | $ | 459,336 | | | $ | 444,639 | | | | | | | | | | | (D) | Reconciliation of accumulated depreciation and amortization for the years ended December 31: | | 2025 | | 2024 | | 2023 | | Balance at January 1 | | $ | 88,289 | | | $ | 78,784 | | | $ | 83,169 | | | Depreciation and amortization expense | | 10,752 | | | 10,655 | | | 5,973 | | | Write off due to disposals | | (11,460) | | | (1,150) | | | (10,358) | | | Balance at December 31 | | $ | 87,581 | | | $ | 88,289 | | | $ | 78,784 | |
(E) Encumbrance of $78,300 is from the line of credit that is secured by the properties listed above. (F) Includes gross intangible lease assets of $47,539 and gross intangible lease liabilities of $17,883. (G) Flats at Carrs Hill has an encumbrance of $25,500 from Nationwide Life Insurance Company. (H) Wallingford Plaza has an encumbrance of $6,353 from Transamerica Life Insurance Company. (I) Elston Plaza has an encumbrance of $16,107 from State Farm Life Insurance Company. (J) Providence Square has an encumbrance of $29,700 from Nationwide Life Insurance Company. (K) Seattle East Industrial has an encumbrance of $45,140 from JPMorgan Chase Bank. (L) The Glenn has an encumbrance of $66,000 from Massachusetts Mutual Life Insurance Company.
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