{"id":1004021225,"date":"2010-06-28T08:41:53","date_gmt":"2010-06-28T16:41:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004021225"},"modified":"2022-12-07T11:02:37","modified_gmt":"2022-12-07T19:02:37","slug":"dividend-closes-on-1-3b-cre-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dividend-closes-on-1-3b-cre-portfolio\/","title":{"rendered":"Dividend Closes on $1.3B CRE Portfolio"},"content":{"rendered":"<p>June 28, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004021226\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/epicharmus-four.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004021226\" data-attachment-id=\"1004021226\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/dividend-closes-on-1-3b-cre-portfolio\/epicharmus-four\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/epicharmus-four.jpg\" data-orig-size=\"500,375\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"epicharmus, four\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user epicharmus&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/epicharmus-four.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/epicharmus-four.jpg\" alt=\"\" title=\"epicharmus, four\" width=\"300\" height=\"225\" class=\"size-medium wp-image-1004021226\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/epicharmus-four.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/06\/epicharmus-four.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004021226\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user epicharmus<\/p><\/div>\n<p>Dividend Capital Total Realty Trust Inc. today said it has completed the $1.3 billion acquisition of a 32-property portfolio of office and industrial properties. The properties are located in 16 U.S. markets and comprise approximately 11.3 million net rentable square feet.<\/p>\n<p>About 99 percent occupied, the portfolio includes 21 office properties located in 10 markets totaling 4.6 million net rentable square feet and 11 industrial properties in nine markets totaling approimately 6.7 million net rentable square feet. Dividend said most properties are leased to single tenant corporate users with weighted remaining lease terms of approximately 7.6 years.<\/p>\n<p>\u201cWe are extremely pleased to acquire this high-quality portfolio of office and industrial buildings,\u201d Dividend president Guy Arnold said when announcing the news. \u201cWe feel the acquisition is a valuable addition to our portfolio, further diversifying our commercial real estate holdings by property type, tenant base and geography.\u201d<\/p>\n<p>Tenants include Amazon.com, Sybase, FedEx, Unisys, Goodyear, Nokia Siemens, Avis Budget, DIRECTV, and Google. <\/p>\n<p>Dividend financed the purchase with $859 million in senior and mezzanine financing with a combination of fixed and floating interest rates, with the average interest rate of the loans about 5.4 percent. <\/p>\n<p>\u201cWe were able to obtain very attractive financing on the portfolio,\u201d Dividend vice president of finance Lainie Minnick said when announcing the news. \u201cThe financing gives us flexibility in our business plan moving forward.\u201d<\/p>\n<p>Based in Denver, Dividend owned 11 properties totaling approximately 24.3 million square feet in 35 geographic markets as of June 25, 2010.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The properties are located in 16 U.S. markets and comprise approximately 11.3 million net rentable square feet.<\/p>\n","protected":false},"author":936,"featured_media":1004021226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37774,37775,21742,37776,37777,37778],"tags":[],"class_list":["post-1004021225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-dividend-yield","category-rc-forward-affo-payout-ratios","category-latest","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-rc-total-return"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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