DENVER, CO -- 11/03/09 --
Dividend Capital Total Realty Trust Inc., a
diversified real estate investment trust (REIT), announced today that it
acquired a class-A office property located in Princeton, NJ -- centrally
located between New York City and Philadelphia.
The property totals approximately 167,000 square feet and is currently 100%
leased to Novo Nordisk Inc. -- a healthcare company that manufactures and
markets diabetes care products worldwide.
"This acquisition presents an opportunity for us to enhance the portfolio's
core office holdings with a class-A property in what we believe is a
prestigious Northeast market, while simultaneously diversifying the
portfolio's tenant base with a large pharmaceutical company," said Guy
Arnold, president of Dividend Capital Total Realty Trust Inc. "In addition,
the tenant has 13 years remaining on its current triple-net lease, which is
guaranteed by its parent company and should generate a dependable long-term
cash flow. By entering what we believe is an attractive office market --
with numerous corporate headquarters due to the central location in the
Northeast -- we are able to continue to execute our strategy of acquiring
high-quality assets at attractive pricing."
The property was developed by Patrinely Group, LLC and owned in a venture
between Patrinely Group's parent company, Crimson Capital, Ltd., and USAA
Real Estate Company.
Dividend Capital Total Realty Trust Inc., a Denver-based REIT, invests in a
diversified portfolio of commercial real estate assets. As of June 30,
2009, the company owned 76 properties totaling approximately 12.5 million
square feet in 26 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 Inc.'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.
