Dividend Capital Diversified Property Fund Inc. ("DPF" or "the Company"), a public reporting, daily NAV REIT (NASDAQ : ZDPFEX) (NASDAQ : ZDPFAX) (NASDAQ : ZDPFWX) (NASDAQ : ZDPFIX), announced today the acquisition of an office building located at 655 Montgomery Street in San Francisco, CA.
On November 7, 2013, DPF acquired a 25-story Class-A, LEED Platinum office and condo tower located in the financial district of San Francisco. The building totals approximately 268,849 square feet of commercial space and is currently 85% leased.
"655 Montgomery highlights our strategy of investing in high-quality, institutional assets in supply constrained markets with exceptional tenant demand," said Jeff Johnson, CEO of the Company.
"Our coordinated acquisition strategy has led to acquiring an irreplaceable asset, in a highly sought after market, at a very good value," said Michael Lynch, President of the Company. "Our nationwide, diversified platform provides us a significant pipeline of acquisition opportunities. We continue to be very selective; 655 Montgomery represents our first acquisition after pursuing more than $3 billion of opportunities in 2013."
About Dividend Capital Diversified Property FundDividend Capital Diversified Property Fund is a public reporting, daily NAV vehicle based in Denver, CO that invests in a diversified portfolio of commercial real estate assets. The company currently owns 82 properties totaling approximately 15.2 million square feet in 30 geographic markets. More information is available at www.dividendcapitaldiversified.com.
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