Duke Realty Limited PARTNERSHIP (DRE)

Risks

• The full effects of the COVID-19 pandemic are highly uncertain and cannot be predicted.
• Our use of debt financing could have a material adverse effect on our financial condition.
• Debt financing may not be available and equity issuances could be dilutive to our shareholders and unitholders.
• Financial and other covenants under existing credit agreements could limit our flexibility and adversely affect our financial condition.
• Downgrades in our credit ratings could increase our borrowing costs or reduce our access to funding sources in the credit and capital markets.
• If we are unable to generate sufficient capital and liquidity, then we may be unable to pursue future development projects and other strategic initiatives.
• Our use of joint ventures may negatively impact our jointly-owned investments.
• Our net earnings available for investment or distribution to shareholders and unitholders could decrease as a result of factors related to the ownership and operation of commercial real estate, many of which are outside of our control.
• Many real estate costs are fixed, even if income from properties decreases.
• Our real estate development activities are subject to risks particular to development.
• We may be unsuccessful in operating completed real estate projects.
• Our investments are concentrated in the industrial sector and our business would be adversely affected by an economic downturn in that sector.
• We are exposed to the risks of defaults by tenants.
• We may be unable to renew leases or relet space.
• Our insurance coverage on our properties may be inadequate.
• Our asset strategy may lead to long-term dilution.
• Acquired properties may expose us to unknown liability.
• We could be exposed to significant environmental liabilities as a result of conditions of which we currently are not aware.
• We are exposed to the potential impacts of future climate change and climate-change related risks.
• If the General Partner were to cease to qualify as a REIT, it would lose significant tax benefits.
• REIT distribution requirements limit the amount of cash we have available for other business purposes, including amounts that we need to fund our future capital needs.
• U.S. federal income tax treatment of REITs and investments in REITs may change in a manner that could adversely affect us or shareholders.
• The General Partner's stock price and trading volume may be volatile, which could result in substantial losses to its shareholders and to the Partnership's unitholders, if and when they convert their Limited Partner Units to shares of the General Partner's common stock.
• We are subject to certain provisions that could discourage change-of-control transactions, which may reduce the likelihood of the General Partner's shareholders receiving a control premium for their shares.
• We are dependent on key personnel.