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MMREIT reaches agreement with DCT Industrial affiliates

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July 23
5:36 AM 2013

Macquarie Mexican REIT (MMREIT) announced that they have reached an agreement with  the affiliates of DCT Industrial Trust Inc. The agreement is for the acquisition of a portfolio for 15 industrial properties that are located across five states in Mexico worth US$82.7 million.  The deal will include transaction costs and property tax making the total acquisition worth US$86.3 million. MMREIT said that they will fund the acquisition from available cash and from existing credit facilities. The transaction between MMREIT and DCT is expected to close by the late third quarter of this year; latest would be early fourth quarter of 2013.

 "We are pleased to continue building on our existing industrial portfolio with the addition of these strongly performing, fully occupied properties," said Jaime Lara, Chief Executive Officer of MMREIT. "The addition of these properties gives us further penetration into key markets such as Monterrey, an important industrial market in Mexico."

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