Dundee International REIT announces update on Deutsche Post leases

Dundee International REIT announces update on Deutsche Post leases 
This news release contains forward looking information that is based upon 
assumptions and is subject to risks and uncertainties as indicated in the 
cautionary note contained within this press release. 
TORONTO, June 24, 2013 /CNW/ - DUNDEE INTERNATIONAL REIT (DI.UN - TSX) 
announced today that it is currently in discussions with Deutsche Post in 
respect of its 2014 lease termination rights. Deutsche Post has the right to 
terminate leases in respect of59 properties in Dundee International REIT's 
portfolio, effective July 1, 2014, provided that it provides notice by June 
30, 2013. Deutsche Post has exercised such right in respect of five 
properties, comprising an aggregate gross leasable area of 613,000 square feet 
and contributing approximately 3.2% to the REIT's current GRI.The REIT is 
continuing its discussions with Deutsche Post in respect of the remaining 54 
properties subject to termination rights, and has agreed with Deutsche Post to 
extend the deadline for providing notice of termination to August 31, 2013 in 
order to explore mutually beneficial alternatives with Deutsche Post. The 
REIT's team in Germany will focus its efforts to release the space in these 
five terminated properties, andwill alsopursue dispositionand 
redevelopment opportunities. 
"Diversifying our portfolio and improving the quality of our long-term cash 
flow remains a key objective for Dundee International REIT. With approximately 
$864 million of acquisitions completed and under contract year-to-date, we 
have transformed our asset base, added globally recognized names to our tenant 
roster and reduced the contribution from our largest tenant Deutsche Post from 
approximately 65% of the Trust's overall GRI at the beginning of 2013 to 
approximately 38%," said Jane Gavan, CEO of the REIT. 
Dundee International REIT is an unincorporated, open-ended real estate 
investment trust that provides investors with the opportunity to invest in 
commercial real estate exclusively outside of Canada. Dundee International 
REIT's portfolio currently consists of approximately 15.2 million square feet 
of gross leasable area of office, industrial and mixed use properties across 
Germany. For more information, please visit www.dundeeinternational.com. 
This press release may contain forward-looking information within the meaning 
of applicable securities legislation. Forward looking information is based 
on a number of assumptions and is subject to a number of risks and 
uncertainties, many of which are beyond Dundee International REIT's control 
that could cause actual results to differ materially from those that are 
disclosed in or implied by such forward-looking information. These risks and 
uncertainties include, but are not limited to, global and local economic and 
business conditions; the financial condition of tenants; our ability to 
refinance maturing debt; leasing risks, including those associated with the 
ability to lease vacant space; and interest and currency rate functions. 
Although the REIT is in discussions with Deutsche Post, there can be no 
assurance that Deutsche Post will not terminate additional leases pursuant to 
its 2014 lease termination rights. Our objectives and forward-looking 
statements are based on certain assumptions, including that the Canadian and 
German economies remain stable, interest rates remain stable, conditions 
within the real estate market remain consistent, competition for acquisitions 
remains consistent with the current climate and that the capital markets 
continue to provide ready access to equity and/or debt. All forward-looking 
information in this press release speaks as of the date of this press 
release. Dundee International REIT does not undertake to update any such 
forward-looking information whether as a result of new information, future 
events or otherwise. Additional information about these assumptions and risks 
and uncertainties is contained in Dundee International REIT's filings with 
securities regulators, including its latest annual information form and MD&A. 
These filings are also available at Dundee International REIT's website at 
www.dundeeinternational.com. 
Michael J. Cooper Vice Chairman (416) 365-5145 mcooper@dundeeinternational.com 
P. Jane Gavan President and Chief Executive Officer (416) 365-6572 
jgavan@dundeeinternational.com 
Rene D. Gulliver Chief Financial Officer (416) 365-5447 
rgulliver@dundeeinternational.com 
SOURCE: Dundee International REIT 
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CO: Dundee International REIT
ST: Ontario
NI: REL  
-0- Jun/24/2013 21:51 GMT
 
 
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