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Article: Dundee REIT Announces Results of Redemption and Transfer Following Sale of Eastern Portfolio to GE Real Estate
- Article from:
- CCNMatthews Newswire
- Article date:
- August 27, 2007
CopyrightCopyright 2007 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(Marketwire - Aug. 27, 2007) - DUNDEE REIT
(TSX:D.UN) announced the results of the redemption and transfer of
units of Dundee REIT following the completion of the sale of its
Eastern real estate portfolio and related assets to GE Real Estate.
The total purchase price paid by GE for the Eastern Portfolio was
$2.3 billion, including cash proceeds of $1.4 billion. Excluded from
this amount was approximately $96.8 million related to certain
holdback properties, which were not conveyed on closing.
The redemption and transfer occurred at 8:00 a.m. (Toronto time)
today. As a result, a total of 33,388,971 issued and outstanding REIT
units were acquired, 29,915,284 of which were ...