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SANTA CLARA, CA-Dividend Capital Total Realty Trust Inc., a Denver-based REIT launched in April has made its first acquisition, paying $35.8 million for Jay Street Office Park. The 142,500-sf office park here is fully leased.

Dividend Capital Total Realty Trust acquired the three-building park in a joint venture an affiliate of San Diego-based Westcore Properties. Located at 3101-3151 Jay St., Jay Street Office Park is currently 100% leased, and major tenants include publicly held Safenet Inc., Vormetric and C-Switch. It was developed in 1999 by San Jose, CA-based Orchard.

Dividend Capital Total Realty Trust chairman John Blumberg says the company is seeking other well-leased retail, industrial and multi-family assets. Also at the end of June, the company acquired approximately $4.5 million of real estate related securities through purchases in the open market. The purchases consisted of preferred equity securities of various real estate operating companies and real estate investment trusts primarily in the office, retail, lodging and diversified sectors.

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