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Article: GE Real Estate to acquire Central and Eastern Canadian Portfolio from Dundee REIT for $2.4 billion CDN.
- Article from:
- PR Newswire
- Article date:
- June 4, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dundee REIT is a Toronto-Based Publicly-Traded REIT
STAMFORD, CT and TORONTO, June 4 /PRNewswire/ -- GE Real Estate, a unit of GE Commercial Finance, and Dundee REIT (D.UN - TSX) announced today that they have executed a definitive agreement whereby Dundee REIT's operating subsidiary will sell its portfolio of real estate assets located principally in Ontario, Quebec and Newfoundland (the "Eastern Portfolio") to GE Real Estate for approximately $2.4 billion CDN.
As part of this transaction, GE Real Estate has agreed to purchase $165 million of outstanding units of Dundee REIT, which will give GE Real Estate an approximate 18% equity interest in Dundee ...