Dundee REIT

Dundee REIT

June 12, 2012 08:39 ET

Dundee REIT Completes $373.1 Million Equity Offering

TORONTO, ONTARIO--(Marketwire - June 12, 2012) -


DUNDEE REIT (TSX:D.UN) today announced the closing of its previously announced public offering of REIT Units, Series A ("Units") at a price of $35.90 per Unit. The syndicate of underwriters, co-led by TD Securities Inc. and Scotiabank and including CIBC, RBC Capital Markets, BMO Capital Markets, Canaccord Genuity Corp., Dundee Securities Ltd., Brookfield Financial Corp., Desjardins Securities Inc., HSBC Securities (Canada) Inc. and National Bank Financial Inc. (collectively, the "Underwriters"), elected to exercise its over-allotment option in full, resulting in a total of 10,392,550 Units being issued today for gross proceeds of $373,092,545. The offering includes 390,000 Units purchased by Dundee Corporation pursuant to the exercise of its pre-emptive right under Dundee REIT's Declaration of Trust at the offering price and 278,600 Units purchased by Michael Cooper, Vice Chairman and Chief Executive Officer of Dundee REIT, at the offering price.

The net proceeds from the offering will be used to partially fund the acquisition of Scotia Plaza and for general trust purposes.

This press release is not an offer of securities for sale in the United States. The securities being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.

Dundee REIT is an unincorporated, open-ended real estate investment trust. Dundee REIT is focused on owning, acquiring, leasing and managing well-located, high-quality central business district and suburban office properties. Its portfolio currently comprises approximately 26.1 million square feet of gross leasable area in major urban centres across Canada. Dundee REIT's portfolio is well diversified by geographic location and tenant mix. For more information, please visit www.dundeereit.com.

This press release may contain forward-looking statements with respect to Dundee REIT and its operations, strategy, financial performance and financial condition. These statements generally can be identified by the use of forward-looking words such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Dundee REIT discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in securities or other laws or regulations or the application thereof and the factors described under "Risk Factors" in the Annual Information Form of Dundee REIT, as applicable. The cautionary statements qualify all forward-looking statements attributable to Dundee REIT and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release. Except as required by applicable law, Dundee REIT specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

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