More than anything else, creating value is our most important objective as a management team and as a Company. And with DCT’s talented team, strategically-located portfolio and excellent balance sheet, the Company is well prepared to remain a significant player in meeting the distribution needs of our customers and creating value for our shareholders.
DCT’s development activity continued to accelerate in 2015, reflecting very strong customer demand, rental rate growth, low vacancy levels and continued disciplined supply. In the past year we started construction on 12 buildings totaling 3.9 million square feet, for a projected investment of $343 million with initial expected yields of 7.6%.
The $870 million of assets we have built since 2010 are currently worth approximately $340 million, or 39% more than we invested in their development – Creating Value.
Since 2010, we have sold $1.2 billion of assets and exited 10 markets to better allocate our capital to assets and markets with stronger NOI growth and value creation potential. And given continued attractive pricing and high demand by investors, we remained very active in 2015, selling $274 million of assets in 14 different transactions.
As a result of our active development, acquisition and disposition activity, 58.1% of our portfolio is new to DCT since our IPO in December of 2006, and we own what we believe is the highest-quality and best-performing industrial portfolio in the U.S., public or private.