Dundee REIT (TSX:D.UN) is an unincorporated, open-ended real estate investment trust. We own a portfolio of well-located, high-quality central business district and suburban office assets totalling approximately 24.1 million square feet of gross leaseable area in major urban centres across Canada.
Objectives of Dundee REIT
Our objectives are to:
- manage our business to provide growing cash flow and stable and sustainable returns through adapting our strategy and tactics to changes in the real estate industry and economy;
- build and maintain a diversified, growth-oriented portfolio of office properties in Canada, based on an established platform;
- provide predictable and sustainable cash distributions to unitholders and prudently manage distributions over time; and
- maintain a REIT that satisfies the REIT exception under the SIFT legislation in order to provide certainty to unitholders with respect to taxation of distributions.
Strategy of Dundee REIT
Dundee REIT's core strategy is to invest in high quality office properties in key markets across Canada, providing a solid platform for stable and growing cash flows.
How will we achieve this?
- Investing in high-quality office properties. Our portfolio is concentrated in Canada's key urban markets and is comprised of properties that are well located, attractively priced and produce consistent cash flow.
- Optimizing the performance, value and cash flow of our portfolio. With fully internalized property management, we offer a strong team of highly experienced real estate professionals who are focused on achieving more from our assets.
- Diversifying our portfolio to mitigate risk. We will continue to pursue growth by acquiring properties that enhance our overall portfolio, further improve the sustainability of distributions, strengthen our tenant profile and help mitigate risk.
Future property acquisitions will be subject to specific investment guidelines and the operation of Dundee REIT and its subsidiaries will be subject to specific operating policies. The Trustees are responsible for the general control, direction and management of Dundee REIT.
- Maintaining and strengthening our conservative financial profile. We have always operated our business in a disciplined manner, with a keen eye on financial analysis and balance sheet management to ensure we maintain a prudent capital structure.
Dundee Realty Management Corp. - a wholly owned subsidiary of Dundee REIT - manages our revenue-producing properties. This structure provides us with the opportunity to earn revenue and profits from existing and future third party management contracts.
We believe that real estate is an operating business that requires active management in order to enhance value, increase yield and reduce risk to investors. Dundee Realty Management Corp. will be dedicated to increasing rental income from increased occupancy rates and higher rental rates. The emphasis will be on renewing existing tenants so as to reduce tenant improvements and leasing costs and to maintain current occupancy without interruption. In addition, the focus will continue to be on providing affordable business premises for tenants, which will require keen attention to providing good value and service through spending on operating costs.