DENVER, Jan. 29, 2014 (GLOBE NEWSWIRE) -- Dividend Capital Diversified Property Fund Inc. ("DPF" or "the Company"), a public reporting, daily NAV REIT (Nasdaq:ZDPFEX) (Nasdaq:ZDPFAX) (Nasdaq:ZDPFWX) (Nasdaq:ZDPFIX), announced today the disposition of a number of non-strategic properties as part of its ongoing active portfolio management.
"Being an active manager means that we seek to create shareholder value in all different real estate cycles. Over the past year, we successfully executed on a plan to sell certain non-strategic assets at very accretive prices, while at the same time we have been very selective in acquiring strategic assets at a fair price," stated Jeff Johnson, Chief Executive Officer of DPF. "As we find attractive opportunities to acquire and sell assets, we will continue to reposition the portfolio to increase the returns to our shareholders on both a current and long term basis."
Over the last 13 months, DPF has sold 25 properties in excess of $560 million and acquired 655 Montgomery, a 25-story Class-A, LEED Platinum office building located in the financial district of San Francisco for approximately $110 million.
"Every activity, every decision and each of our investments is conducted with a focus on increasing shareholder value," added Michael Lynch, President of DPF, "We continue to target geographically diverse, high-quality real estate that we believe will be accretive to the Company over the long-term."
About Dividend Capital Diversified Property Fund
Dividend Capital Diversified Property Fund is a public reporting, daily NAV vehicle based in Denver, CO that invests in a diversified portfolio of commercial real estate assets. The company currently owns 70 properties totaling approximately 11.9 million square feet in 24 geographic markets. More information is available at www.dividendcapitaldiversified.com.
This material may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect(s)," "could," "should," and "continue" and similar statements are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results that are materially different than those described in the forward-looking statements. Dividend Capital Diversified Property Fund cannot give assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Dividend Capital Diversified Property Fund's expectations include, but are not limited to, the uncertainty of funding Dividend Capital Diversified Property Fund's future capital needs, delays in the acquisition, development, and construction of real properties, changes in economic conditions generally and the real estate and securities markets specifically, and other risks detailed from time to time in Dividend Capital Diversified Property Fund's Securities and Exchange Commission reports. Such forward-looking statements pertain only as of the date of this press release. Dividend Capital Diversified Property Fund expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions, or circumstances on which any statement is based.
CONTACT: Eric Paul Dividend Capital (303) 228-2200Source:Dividend Capital Diversified Property Fund