Denver-based real estate investor Dividend Capital Diversified Property Fund has sold a national package of properties for $398.6 million.
The sale to New York-based Gramercy Property Trust Inc. includes six office buildings totaling 1.1 million square and six industrial properties totaling 1.6 million square feet. One of the industrial buildings is a 90,000-square-foot structure in Aurora’s Gateway Park, occupied by CEVA Freight Management.
Gramercy assumed $128 million of mortgage debt on the properties.
Diversified Property Fund said proceeds from the sale will be used to repay borrowings on a revolving credit facility and for general corporate purposes.
Following the sale, the fund now owns 19 office properties, six industrial buildings and 32 retail properties across the nation.
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Steve Raabe: 303-954-1948, sraabe@denverpost.com or twitter.com/steveraabedp
