May 4, 2010 / 10:56 AM / in 9 years

Dividend Capital agrees to buy portfolio from iStar for $1.4 bln

May 4 (Reuters) - Dividend Capital Total Realty Trust Inc, a diversified REIT, said it agreed to buy a commercial real estate portfolio from subsidiaries of iStar Financial Inc SFI.N for $1.4 billion.

The portfolio consists of 33 office and industrial properties located in 18 distinct geographic markets within the United States, amounting to about 11.8 million net rentable square feet.

The transactions are expected to close in the second quarter of 2010, Dividend Capital said in a statement on Monday.

Shares of iStar, the U.S. commercial real estate lender, closed at $6.99 Monday on the New York Stock Exchange. (Reporting by Brenton Cordeiro in Bangalore; Editing by Maju Samuel)

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