Date Closed

December 19, 2012

Lead Office

Toronto

Value

80.00 Million CAD

On December 19, 2012, Dundee Industrial REIT (“Dundee”) completed an acquisition of an industrial portfolio of properties located in Alberta, Ontario, Quebec and Nova Scotia, totaling 5.3 million square feet of industrial space, for the aggregated sum of C$498 million from Niagara Acquisition LP. The transaction was a joint venture between KingSett Real Estate Growth LP and its affiliates, and certain clients of Alberta Investment Management Corp.

The acquisition was funded in part with the net proceeds of a C$230 million public offering of units and convertible debentures completed by Dundee on December 13, 2012, as well as the issuance on closing of C$25 million of units and C$25 million of convertible debentures to affiliates of KingSett.

Dundee satisfied the balance of the purchase price by assuming approximately C$148.5 million of existing mortgage debt, by incurring C$35 million of new mortgage debt from Royal Bank of Canada and with funds drawn under a bridge credit facility from Toronto Dominion Bank established to close the transaction.

Dundee, headquartered in Toronto, Ontario, is an unincorporated, open-ended real estate investment trust that provides investors with direct exposure to the industrial real estate sector while enjoying the benefits of a REIT structure.

Toronto Dominion Bank was represented by McCarthy Tétrault LLP with a team comprising John Currie, Paul Galbraith, Andrejs Mistiouk and Annie Gagnon-Larocque.