DENVER, Sept. 18 /PRNewswire-FirstCall/ -- DCT Industrial Trust Inc. (NYSE: DCT), a leading industrial real estate investment trust, today announced that it has formed a third institutional capital management joint venture with Dividend Capital Total Realty Trust, a diversified real estate investment trust.
Five bulk distribution buildings in Louisville, KY totaling 890,000 square feet were purchased directly into the joint venture. The buildings are currently 97% occupied.
'We are extremely pleased to expand our relationship with Dividend Capital Total Realty Trust,' said Jim Cochran, President and Chief Investment Officer of DCT Industrial. 'In total, our three joint ventures with Dividend Capital Total Realty Trust now have more than $350 million in assets under management.'
About DCT Industrial Trust
DCT Industrial Trust is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. As of June 30, 2008, the Company owned, managed or had under development 75.7 million square feet of assets leased to approximately 850 customers, including 13.7 million square feet managed on behalf of three institutional joint venture partners. Additional information is available at www.dctindustrial.com.
About Dividend Capital Total Realty Trust
Dividend Capital Total Realty Trust, a Denver-based REIT, invests in a diversified portfolio of commercial real estate assets. As of June 30, 2008, the company owned 62 properties totaling approximately 10.8 million square feet in 19 geographic markets.
SOURCE DCT Industrial Trust Inc.
