Dividend Capital Total Realty Trust Inc., a diversified Real Estate Investment Trust (REIT), announced today that in March 2007, it acquired seven properties totaling more than 2.0 million net rentable square feet at a total cost of approximately $127.6 million. Properties included one office and six industrial buildings.
The Shackelford office property in Little Rock, AK was acquired at a total cost of approximately $21.9 million. The 101,977 square foot building is 100% leased to the Federal Bureau of Investigation until 2021 and serves as the FBI’s headquarters for the State of Arkansas. The property was recently constructed in 2001 and was built to the highest standards of the U.S. General Services Administration (GSA). The FBI lease does not have a termination clause and is backed by the credit of the U.S. Government (rated AAA+ by S&P).
Total Realty Trust also expanded its industrial portfolio in March 2007 with the acquisition of six industrial properties in five different markets throughout the United States. The six properties, acquired at a total cost of approximately $105.7 million, comprise a total of about 1.9 million square feet and are located in the Atlanta, GA, Chicago, IL, Central Pennsylvania, Indianapolis, IN and Dallas, TX distribution markets. Each of the properties is 100% leased and major tenants include companies such as Excel Inc. (Deutsche Post World Net), GTE Communications (Verizon), Banta Publications Group (NYSE: BN), Legasse and Tricor Braun.
“Creating geographic and property type diversity for our direct real estate portfolio is one of our key investment objectives. These latest acquisitions not only bolster the office sector of our portfolio, but also increase the geographic coverage of industrial properties in the Northeast, Southeast, Midwest and Southwest regions of the United States,” said John Blumberg, chairman of Dividend Capital Total Realty Trust.
Dividend Capital Total Realty Trust, a Denver-based real estate investment trust (REIT), invests in a diversified portfolio of high-quality direct real estate, real estate securities and debt related investments. The company currently owns 24 properties in a diversified portfolio totaling approximately 5.2 million square feet, acquired at a total acquisition cost of approximately $450.6 million.
For more complete information about Dividend Capital Total Realty Trust, you may download and view a prospectus at dividendcapital.com, or call 866.DCG.REIT. Read the prospectus carefully before investing. Please carefully consider the investment objectives, risks, and charges and expenses before you invest or send money.