SOURCE: Dividend Capital

April 09, 2009 15:11 ET

Dividend Capital Total Realty Trust Announces Acquisition of a Washington, D.C. Area Retail Property

DENVER, CO--(Marketwire - April 9, 2009) - Dividend Capital Total Realty Trust Inc., a diversified real estate investment trust (REIT), announced today that on April 6, 2009 it acquired a multi-tenant retail shopping center located in Gaithersburg, Maryland -- an affluent Washington, D.C. suburb.

The property totals approximately 233,000 square feet and is currently 100% leased to seven tenants, including Home Depot, Best Buy and Nordstrom Rack.

"This acquisition presents an opportunity for us to enhance the portfolio's retail holdings with one of the top-performing community shopping centers in the Washington, D.C. metro area," said Guy Arnold, president of Dividend Capital Total Realty Trust. "By entering what we believe is a high-barrier-to-entry retail market with an established, stabilized property that is leased to a roster of market-leading tenants, we are able to continue to execute on our strategy of acquiring well-performing assets at attractive pricing."

Dividend Capital Total Realty Trust, a Denver-based REIT, invests in a diversified portfolio of commercial real estate assets. As of December 31, 2008, the company owned 73 properties totaling approximately 12 million square feet in 24 geographic markets.

Certain items in this press release may constitute 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 expressions 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 materially different from those described in the forward-looking statements. Dividend Capital Total Realty Trust Inc. can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Dividend Capital Total Realty Trust Inc.'s expectations include, but are not limited to, the uncertainty of the sources for funding Dividend Capital Total Realty Trust Inc.'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 the other risks detailed from time to time in Dividend Capital Total Realty Trust's Securities and Exchange Commission reports. Such forward-looking statements speak only as of the date of this press release. Dividend Capital Total Realty Trust Inc. 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.