DUNDEE REIT will acquire a portfolio of 29 office properties in Toronto, Ottawa, Edmonton and Calgary. The REIT will buy the portfolio from affiliates of Blackstone Real Estate Advisors and Slate Properties for $831.8 million.
As part of the deal, Dundee will also sell five of the properties to third parties for total proceeds of $142 million. The transaction is expected to be completed on Aug. 15, 2011.
Click here for the release from Market Wire.