Duke Realty Corporation Enhancing Liquidity Position by Over $250 Million

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Tue Apr 7, 2009 9:15am EDT 

  INDIANAPOLIS, IN, Apr 07 (MARKET WIRE) -- 
Duke Realty Corporation (NYSE: DRE), an integrated national owner,
manager and developer of industrial, office and healthcare properties,
today provided information regarding certain first quarter financing and
disposition transactions. These transactions generated $218 million of
gross proceeds for the quarter, and are expected to provide an additional
$33 million of proceeds from pending transactions. Proceeds will be used
to reduce near-term maturing debt.

    "Liquidity is the most important short-term priority for the company,"
said Dennis D. Oklak, chairman and chief executive officer. "These
transactions have generated significant liquidity and further
strengthened our balance sheet."

    Including the transactions announced today, the company has raised more
than $1.7 billion in capital since November 2007.

    Financing

    The company completed $156 million of 10-year secured debt financing
during the quarter. The loans are secured by geographically diverse
portfolios of suburban office and industrial assets. The proceeds were
primarily used to repurchase unsecured bonds with near-term maturities
and to pay down the company's line of credit.

    Dispositions

    The company sold two office buildings consisting of 381,000 square feet in
suburban St. Louis, together with 14 acres of land, for gross proceeds of
approximately $61 million. In addition, the company has executed
agreements with its joint venture partner, CB Richard Ellis Realty Trust,
to acquire three additional properties for and on behalf of the joint
venture. Closing on these properties is expected in the second quarter,
subject to certain conditions, and is anticipated to provide gross
proceeds of $33 million.

    Quarterly Conference Call

    Duke will hold its quarterly conference call to discuss first quarter
results on Thursday, April 30, 2009, at 3:00 p.m. EDT. Access will be
available through Duke's Web site under "Investor Relations."

    About Duke Realty Corporation

    Duke Realty Corporation specializes in the ownership, management and
development of office, industrial, and healthcare real estate. The company
owns, manages, or has under development more than 135 million rentable
square feet in 20 U.S. cities. Duke Realty Corporation is publicly traded
on the NYSE under the symbol DRE and is listed on the S&P MidCap 400
Index. More information about Duke is available at www.dukerealty.com.

    

Investor Relations Contacts:

Shona Bedwell
317.808.6169
shona.bedwell@dukerealty.com

Randy Henry
317.808.6060
randy.henry@dukerealty.com

News Media Contact:

Joel Reuter
317.808.6137
joel.reuter@dukerealty.com

Copyright 2009, Market Wire, All rights reserved.

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