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Dividend Capital Diversified Property Fund Closes $550 Million Senior Unsecured Credit and Term Facility

DENVER, Jan. 15, 2015 (GLOBE NEWSWIRE) -- Dividend Capital Diversified Property Fund Inc. ("DPF"), a public reporting, daily NAV REIT (Nasdaq:ZDPFEX) (Nasdaq:ZDPFAX) (Nasdaq:ZDPFWX) (Nasdaq:ZDPFIX), announced the closings of a $550 million senior unsecured credit and term facility (the "Facility"). The Facility includes a $400 million senior unsecured revolving credit facility and a $150 million delayed-draw term loan. An accordion feature will allow DPF to increase the Facility by $350 million, subject to obtaining additional lender commitments, for total maximum commitments of $900 million. At closing, DPF had $280 million outstanding on the revolving credit facility and $100 million outstanding on the delayed-draw term loan. Proceeds from the Facility were used to retire the outstanding obligations under DPF's previous senior unsecured credit facility.

The revolving credit facility is scheduled to mature on January 31, 2019. However, DPF may extend the maturity date to January 31, 2020, subject to satisfaction of certain conditions and payment of an extension fee. Pricing under the revolving credit facility is based upon DPF's consolidated leverage ratio and is currently at LIBOR plus 140 basis points.

The delayed-draw term loan matures January 31, 2018 and may be extended for two, 12 month periods to January 31, 2020 subject to satisfaction of certain conditions and payment of extension fees. Pricing under the three-year term loan is based upon DPF's consolidated leverage ratio and is currently at LIBOR plus 135 basis points.

Kirk Scott, Chief Financial Officer, commented, "Real estate markets are very dynamic and always changing. Our unsecured financing strategy has become an integral part of our business that provides us with significant flexibility at what we believe to be attractive pricing and terms."

Merrill Lynch, Pierce, Fenner & Smith Incorporated, PNC Capital Markets LLC and Wells Fargo Securities, LLC acted as Joint Lead Arrangers and Joint Bookrunners for the Facility. The banking syndicate includes Bank of America, N.A., as Administrative Agent and lender, PNC Bank, National Association, as Co-Syndication Agent and lender, Wells Fargo Bank, N.A., as Co-Syndication Agent and lender, US Bank National Association; Fifth Third Bank; TD Bank, N.A.; Regions Bank; Capital One, National Association; Keybank, National Association; Associated Bank, National Association; Bank of the West; JPMorgan Chase Bank, N.A.; MUFG Union Bank, N.A.; and Raymond James Bank, N.A., each as lenders.

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. DPF owned 69 properties totaling approximately 12.0 million square feet in 24 geographic markets as of September 30, 2014. More information is available at www.dividendcapitaldiversified.com.

Forward-Looking Information

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, particularly the section entitled "Risk Factors" in Item 1A of the Company's Annual Report on Form 10-K. 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