Dundee REIT
TSX : D.UN

Dundee REIT

April 07, 2006 09:01 ET

Dundee REIT Completes $61 Million Equity Offering

TORONTO, ONTARIO--(CCNMatthews - April 7, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

DUNDEE REIT (TSX:D.UN) today announced the closing of its previously announced public offering of 2,200,000 REIT Units, Series A ("Units") at $27.75 per Unit for gross proceeds of $61,050,000. The offering was completed through a syndicate of investment dealers led by TD Securities Inc. and Scotia Capital Inc. Dundee REIT has granted the syndicate an over-allotment option, exercisable for a period of 30 days following closing, to purchase up to an additional 320,000 Units which, if exercised, would increase the gross proceeds to $69,930,000. The net proceeds of the offering will be used for general trust purposes, including for funding strategic acquisitions.

The Units being offered have not been and will not be registered under the United States Securities Act of 1933 and accordingly will 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 in limited circumstances.

Dundee REIT is an unincorporated, open-ended real estate investment trust. We provide high quality, affordable business premises. We focus on owning, acquiring, leasing and managing mid-sized urban and suburban office and industrial properties in Canada. Our diversified portfolio consists of approximately 16.4 million square feet of gross leasable area, located primarily in our target markets of Toronto, Ottawa, Montreal, Calgary and Edmonton. Our portfolio is well diversified by asset type, geographic location and tenant mix. For more information, please visit www.dundeereit.com.

Contact Information

  • Dundee Real Estate Investment Trust
    Michael J. Cooper
    Chief Executive Officer
    (416) 365-5145
    mcooper@dundeereit.com
    or
    Dundee Real Estate Investment Trust
    J. Michael Knowlton
    President and Chief Operating Officer
    (416) 365-2325
    mknowlton@dundeereit.com