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DIVIDEND CAPITAL DIVERSIFIED PROPERTY FUND INC. FILES (8-K) Disclosing Other Events

June 9, 2014



Item 8.01. Other Events.

Under our Class E share redemption program (the "Class E SRP") that is currently in effect, funds for redemptions made at the end of each quarter are generally limited to an amount equal to (i) funds received from the sale of Class E shares under our distribution reinvestment plan during such calendar quarter, plus (ii) 50% of the difference between (a) the proceeds (net of sales commissions) received by us from the sale of Class A, Class W and Class I shares in our public primary offering and under our distribution reinvestment plan during the most recently completed calendar quarter, and (b) the dollar amount used to redeem Class A, Class W and Class I shares during the most recently completed calendar quarter pursuant to the Class A, W and I share redemption program, less (iii) funds used for redemptions of Class E shares in the most recently completed quarter in excess of such quarter's applicable redemption cap due to qualifying death or disability requests of a stockholder during such calendar quarter. However, our board of directors may from time to time, but is not obligated to, authorize funds for redemptions of Class E shares in greater or lower amounts. We are not obligated to redeem shares of our common stock under the Class E SRP. The foregoing limitation is referred to as the "Quarterly Redemption Cap." Notwithstanding the Class E liquidity level desired by our board of directors, pursuant to this share redemption program, we will not redeem during any consecutive twelve-month period more than five percent of the number of Class E shares of common stock outstanding at the beginning of such twelve-month period (excluding certain redemptions made in connection with a stockholder's death or disability) (referred to herein as the "Aggregate Redemption Cap").

On June 9, 2014, our board of directors approved and directed an increase in the Quarterly Redemption Cap with respect to Class E share redemptions made with respect to the second quarter of 2014, to the maximum possible amount without exceeding the Aggregate Redemption Cap.

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Source: Edgar Glimpses