Dundee REIT has entered into an agreement to issue 4,125,000 REIT Units, Series A at a price of $24.25 per unit to a syndicate of underwriters led by TD Securities Inc. and Scotia Capital Inc.

The syndicate, which includes Dundee Securities Corp., will generate gross proceeds of slightly more than $100 million. In addition, the syndicate has the option, for a period of 30 days after the closing, to purchase up to an additional 412,000 Units, which, if exercised, would increase the offering to about $110 million.

The offering is scheduled to close Feb. 19, subject to
regulatory approval. Dundee REIT has filed a preliminary prospectus in each province. Dundee REIT said it intends to use the net proceeds of this offering for general purposes, including the financing of the recently announced acquisition of 1.525 million square feet of newly constructed office, industrial and flex space in the Calgary and Toronto markets.

Dundee REIT is an unincorporated, open-ended real estate investment trust with a portfolio of 11.7 million sq. ft. of gross leasable area, located primarily Toronto, Ottawa, Montréal, Calgary and Edmonton.