DENVER, Dec. 18, 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 today the acquisition of two real estate assets.
Bank of America Tower, located in Boca Raton, FL, is an approximately 110,000 square foot office complex that is 87% leased to 22 tenants. The acquisition price for the buildings was $35.8 million. DPF funded the acquisition through cash on hand and availability under its revolving credit facility.
Yale Village, located in Tulsa, OK, is an approximately 101,000 square foot grocery-anchored shopping center. The center is currently 100% leased to 19 tenants including Whole Foods and CVS. The acquisition price for the center was $31.8 million. DPF funded the acquisition through cash on hand and availability under its revolving credit facility.
“We are very pleased to be acquiring what we believe is the premier neighborhood shopping center in Tulsa,” commented Greg Moran, Executive Vice President at DPF. “We see significant relative value and encouraging long-term growth potential in this acquisition.”
Including these transactions, DPF owns 20 office properties totaling approximately 4.5 million square feet and 35 retail properties totaling approximately 3.8 million square feet.
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 59 properties totaling approximately 9.8 million square feet in 20 geographic markets as of September 30, 2015. 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, 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) 228-2200
Source:Dividend Capital Diversified Property Fund