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DUKE REALTY CORPORATION

(DRE)
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Duke Realty : Adds to Acquisition Team in New Jersey

05/26/2021 | 12:15pm EDT

INDIANAPOLIS - May 27, 2021 Duke Realty Corporation (NYSE: DRE), the largest domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces that Seth Hall has joined Duke Realty's New Jersey market team as assistant vice president of acquisitions. Hall brings more than eight years of commercial real estate and financial experience to his new role in implementing Duke Realty's acquisition strategy in New Jersey, a key growth market for the company.

'Duke Realty continues to invest heavily in the growth of our Northeast region, especially in opportunities in our New Jersey market,' said Art Makris, senior vice president of Duke Realty's Northeast region. 'Acquisitions are an important part of our coastal Tier 1 growth strategy and Seth's expertise will help us expand our best-in-class portfolio.'

'New Jersey's distribution infrastructure and local population make it one of the most desirable logistics markets in the world. We are excited that Seth joined us to expedite our growth in this key market,' said Mark Crawford, vice president and head of acquisitions at Duke Realty. 'We continue to be focused on acquiring industrial assets near the turnpike throughout New Jersey.'

Hall joins Duke Realty from LRC Properties where he served as vice president of acquisitions for various southeastern markets. He was responsible for sourcing, underwriting, evaluating and executing on strategic real estate investments. Prior to joining LRC Properties, he was director of capital markets debt and structured finance at Newmark in New York City. Hall earned financial experience at Mesa West Capital, a Morgan Stanley subsidiary, and Wells Fargo Bank's commercial real estate division where he managed loan commitments in excess of $400 million. Hall earned his Bachelor of Science degree in real estate development from the University of Southern California. In 2018, Hall received the Commercial Observer Top Young Professional honor in the Debt and Equity category and is a member of the Urban Land Institute's Young Leaders Group.

About Duke Realty

On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 162 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.

News Media Contact: Helen McCarthy, senior manager, communications & PR, 317.808.6287, helen.mccarthy@dukerealty.com

Disclaimer

Duke Realty Corporation published this content on 26 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2021 16:14:02 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 1 048 M - -
Net income 2021 284 M - -
Net Debt 2021 3 438 M - -
P/E ratio 2021 65,3x
Yield 2021 2,02%
Capitalization 19 233 M 19 233 M -
EV / Sales 2021 21,6x
EV / Sales 2022 20,7x
Nbr of Employees 350
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 51,29 $
Average target price 49,94 $
Spread / Average Target -2,64%
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Managers and Directors
James B. Connor Chairman, President & Chief Executive Officer
Mark A. Denien Chief Financial Officer & Executive Vice President
Steven W. Schnur Chief Operating Officer & Executive Vice President
Nicholas C. Anthony Chief Investment Officer & Executive VP
Lynn C. Thurber Independent Director
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