RREEF sells Chicago office to Hines for $540 mln

LONDON, April 8 (Reuters) - RREEF Alternatives has sold a Chicago skyscraper to private real estate investment group Hines for $540 million, the Deutsche Bank (DBKGn.DE: Quote, Profile, Research) unit said on Tuesday.

The 51-storey 1.4 million square foot (130,100 sq metre) office building at One North Wacker Drive was sold by RREEF's Chicago PremiumInvest fund to Hines's U.S. Core Office Fund.

A statement from RREEF did not specify the yield achieved on the deal. (See www.reutersrealestate.com for the global service for real estate professionals from Reuters). (Reporting by William Kemble-Diaz, editing by Will Waterman)