Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Dundee International: A Cheap German Real Estate Play

Dundee International REIT (OTC:DUNDF) (DI-UN.TO) ("Dundee International" or "the company") is a 2-year-old spin-off from Dundee REIT (OTC:DRETF), holding commercial real estate solely in Germany. As such, Dundee International is a pure-play on Germany real estate, and ultimately on Europe, where bargain priced assets remain and where Dundee International stands to benefit as a platform for investing in European real estate assets for global investors.

Dundee International is also a business at an inflection point. After a busy first-half of 2013 which resulted in nearly $1 billion in real estate acquisitions, Dundee International has reached a critical size and should be able to glean significant economies of scale from its focused, 299 commercial property asset base...

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