CB Richard Ellis New England has taken over as direct manager for 68 of RREEF’s industrial and office properties in Massachusetts, New Hampshire, Connecticut and Maine.

CBRE will manage the 670,000-square-foot Riverfront Office Park in Cambridge, Crosby Corporate Center in Bedford (588,917 square feet); Andover Tech (334,258 square feet); and Westborough Technology Park (222,453 square feet).

One and Two Portland Square in Portland, Maine (252,238 square feet); and Southborough Office Park in South Portland, Maine (110,000 square feet), are among the other large assignments, according to a statement.

The properties are part of a 70 million square-foot U.S. commercial property portfolio that RREEF recently assigned to CBRE as the direct property manager. The engagement is one of the largest third-party property management assignments in the U.S. commercial real estate industry. RREEF, who had previously provided in-house property management services, manages the properties on behalf of its clients and will remain the asset manager for the portfolio.

"Our prior performance for RREEF laid the foundation for this significant expansion of our relationship and we look forward to providing their portfolio with the high level of service they have provided their tenants," said Tony Long, CB Richard Ellis’ president of Asset Services.

Steve Bassett, senior managing director of CBRE Strategic Accounts, will lead the national team servicing the account. The RREEF account team in New England is led by Mark Tassinari, executive vice president/partner and head of property management at CB Richard Ellis/New England.