FILED PURSUANT TO
RULE 424(b)(7)
SEC FILE NO. 333-140796

 

PROSPECTUS SUPPLEMENT No. 11
(To Prospectus dated February 20, 2007)
DATED: April 22, 2008

 

 

11,747,135 Common Shares


 

Our operating partnership, Duke Realty Limited Partnership, issued and sold $575 million aggregate principal amount of its 3.75% Exchangeable Senior Notes due 2011, or the “notes,” in a private transaction on November 22, 2006. Under certain circumstances, we may issue shares of our common stock upon the exchange or redemption of the notes. In such circumstances, the recipients of such common stock, whom we refer to as the “selling shareholders,” may use this prospectus supplement, together with the prospectus to which it relates, to resell from time to time the shares of our common stock that we may issue to them upon the exchange or redemption of the notes. Additional selling shareholders may be named by future prospectus supplements.

 

This prospectus supplement amends and supplements, and should be read in conjunction with, the prospectus dated February 20, 2007, and future prospectus supplements.

 

The selling shareholder table, appearing under the heading “Selling Shareholders” in the accompanying prospectus, is amended and supplemented by the information in the following table.

 

Name(1)

 

 

 

Number of
Shares
Beneficially
Owned Prior to
the Offering(2)(3)

 

Percentage of
Shares
Beneficially
Owned Prior to
the Offering(4)

 

Number of
Shares Offered
Hereby(3)(5)

 

Number of
Shares
Beneficially
Owned Following
the Offering(5)

 

Percentage of
Shares
Beneficially
Owned Following
the Offering(5)

 

Admiral Flagship Master Fund, Ltd.

 

51,074

 

*

 

51,074

 

 

 

Arctos Partners Inc.

 

598,593

 

*

 

598,593

 

 

 

Aristeia International Limited

 

564,271

 

*

 

564,271

 

 

 

Aristeia Partners LP

 

191,631

 

*

 

191,631

 

 

 

BBT Fund, L.P.

 

210,937

 

*

 

210,937

 

 

 

Bank of America Pension Plan

 

102,149

 

*

 

102,149

 

 

 

Barnet Partners Ltd.

 

20,429

 

*

 

20,429

 

 

 

Bayerische Hypo- und Vereinsbank AG

 

919,341

 

*

 

919,341

 

 

 

Beamtenversicherungskasse Des Kantons Zurich

 

136,879

 

*

 

136,879

 

 

 

Bernische Lehreruersicherungskasse

 

34,730

 

*

 

34,730

 

 

 

Black Diamond Offshore Ltd.

 

14,729

 

*

 

14,729

 

 

 

 

 



 

Name

 

 

 

Number of
Shares
Beneficially
Owned Prior to
the Offering(2)(3)

 

Percentage of
Shares
Beneficially
Owned Prior to
the Offering(4)

 

Number of
Shares Offered
Hereby(3)(5)

 

Number of
Shares
Beneficially
Owned Following
the Offering(5)

 

Percentage of
Shares
Beneficially
Owned Following
the Offering(5)

 

Black Diamond Convertible Offshore LLC

 

32,687

 

*

 

32,687

 

 

 

BNP Paribas Arbitrage

 

51,074

 

*

 

51,074

 

 

 

CAP Fund, L.P.

 

96,530

 

*

 

96,530

 

 

 

Capital Ventures International

 

102,149

 

*

 

102,149

 

 

 

Citadel Equity Fund, Ltd.

 

153,218

 

*

 

153,218

 

 

 

Citigroup Global Markets Inc.

 

946,921

 

*

 

946,921

 

 

 

CMH Strategies

 

1,389

 

*

 

1,389

 

 

 

CQS Convertible and Quantitative Strategies Master Fund Limited

 

459,670

 

*

 

459,670

 

 

 

Credit Suisse International

 

102,145

 

*

 

102,145

 

 

 

Credit Suisse Europe Ltd.

 

423,918

 

*

 

423,918

 

 

 

Credit Suisse Securities (USA) LLC

 

1,521,967

 

*

 

1,521,967

 

 

 

Double Black Diamond Offshore LDC

 

116,020

 

*

 

116,020

 

 

 

Empyrean Capital Fund, LP

 

115,305

 

*

 

115,305

 

 

 

Empyrean Capital Overseas Benefit Plan, Ltd.

 

24,536

 

*

 

24,536

 

 

 

Empyrean Capital Overseas Fund, Ltd.

 

217,679

 

*

 

217,679

 

 

 

Ferox Master Fund Limited

 

103,463

 

*

 

103,463

 

 

 

Florida Fruit & Vegetable Association

 

2,635

 

*

 

2,635

 

 

 

Fore Convertible Master Fund, Ltd.

 

46,110

 

*

 

46,110

 

 

 

Fore ERISA Fund, Ltd.

 

4,964

 

*

 

4,964

 

 

 

FXMC Limited

 

28,294

 

*

 

28,294

 

 

 

Gemini Sammelstiftung Zur Forderling Der Personaluorsorge

 

14,913

 

*

 

14,913

 

 

 

Georgia Municipal Employee Benefit System

 

27,416

 

*

 

27,416

 

 

 

Highbridge Convertible Arbitrage Master Fund LP

 

51,075

 

*

 

51,075

 

 

 

Highbridge International LLC

 

265,587

 

*

 

265,587

 

 

 

Jefferies Umbrella Fund Global Convertible Bond

 

157,309

 

*

 

157,309

 

 

 

ICM Business Trust

 

20,429

 

*

 

20,429

 

 

 

IIU Convertible Arbitrage Fund Limited

 

3,207

 

*

 

3,207

 

 

 

IIU Convertible Fund, plc

 

46,477

 

*

 

46,477

 

 

 

Ionic Capital Master Fund Ltd.

 

561,819

 

*

 

561,819

 

 

 

John Deere Pension Trust

 

20,429

 

*

 

20,429

 

 

 

JP Morgan Securities Inc.

 

122,578

 

*

 

122,578

 

 

 

LDG Limited

 

3,779

 

*

 

3,779

 

 

 

Lehman Brothers Inc.

 

81,719

 

*

 

81,719

 

 

 

Lydian Global Opportunities Master Fund Ltd.

 

61,289

 

*

 

61,289

 

 

 

Lydian Overseas Partners Master Fund, L.T.D.

 

245,157

 

*

 

245,157

 

 

 

Lyxor/Canyon Value Realization Fund Ltd.

 

51,074

 

*

 

51,074

 

 

 

Lyxor/Canyon Capital Arbitrage Fund Ltd.

 

143,008

 

*

 

143,008

 

 

 

 

2



 

Name

 

 

 

Number of
Shares
Beneficially
Owned Prior to
the Offering(2)(3)

 

Percentage of
Shares
Beneficially
Owned Prior to
the Offering(4)

 

Number of
Shares Offered
Hereby(3)(5)

 

Number of
Shares
Beneficially
Owned Following
the Offering(5)

 

Percentage of
Shares
Beneficially
Owned Following
the Offering(5)

 

Metropolitan Atlanta Rapid Tranist Authority

 

4,882

 

*

 

4,882

 

 

 

Old Lane GMA Master Fund LP

 

124,887

 

*

 

124,887

 

 

 

Old Lane HMA Master Fund LP

 

90,807

 

*

 

90,807

 

 

 

Old Lane Cayman Master Fund LP

 

302,431

 

*

 

302,431

 

 

 

Old Lane US Master Fund LP

 

229,847

 

*

 

229,847

 

 

 

Pearl Assurance LTD

 

20,429

 

*

 

20,429

 

 

 

Pensionskasse Der Antalis Ag

 

2,247

 

*

 

2,247

 

 

 

Pensionskasse Der Lonza Ag

 

6,128

 

*

 

6,128

 

 

 

Pensionskasse Huntsman

 

4,290

 

*

 

4,290

 

 

 

Pensionskasse Huntsman II

 

5,516

 

*

 

5,516

 

 

 

Pensionskasse Der Rockwell Automation Ag

 

4,290

 

*

 

4,290

 

 

 

Peoples Benefit Life Insurance Company Teamsters

 

81,719

 

*

 

81,719

 

 

 

PV Promea

 

9,602

 

*

 

9,602

 

 

 

Redbourn Partners Ltd.

 

245,157

 

*

 

245,157

 

 

 

Redbrick Capital Master Fat Tail Fund

 

102,149

 

*

 

102,149

 

 

 

Redbrick Capital MasterFund LTD

 

153,223

 

*

 

153,223

 

 

 

Royal Bank of Canada

 

91,934

 

*

 

91,934

 

 

 

Salar Fund PLC

 

10,215

 

*

 

10,215

 

 

 

SilverCreek II Ltd.

 

51,090

 

*

 

51,090

 

 

 

SilverCreek Limited Partnership

 

122,618

 

*

 

122,618

 

 

 

SRI Fund, L.P.

 

50,053

 

*

 

50,053

 

 

 

Stark Master Fund Ltd.

 

102,182

 

*

 

102,182

 

 

 

Sunrise Partners Limited Partnership

 

122,574

 

*

 

122,574

 

 

 

Tamalpais Asset Management L.P.

 

204,298

 

*

 

204,298

 

 

 

Thrivent Financial for Lutherans

 

71,504

 

*

 

71,504

 

 

 

TQA Master Fund, Ltd.

 

24,209

 

*

 

24,209

 

 

 

TQA Master Plus Fund, Ltd.

 

13,871

 

*

 

13,871

 

 

 

UBS O’Connor LLC F/B/O: O’Connor Global Convertible Arbitrage Master Limited

 

192,653

 

*

 

192,653

 

 

 

 

 

UBS O’Connor LLC F/B/O: O’Connor Global Convertible Arbitrage II Master Limited

 

11,644

 

*

 

11,645

 

 

 

 

 

UBS Securities LLC

 

81,719

 

*

 

81,719

 

 

 

Universal Investment Gesellschaft MBH Ref Aventis

 

102,149

 

*

 

102,149

 

 

 

Wachovia Capital Markets, LLC

 

39,837

 

*

 

39,837

 

 

 

Waterstone Market Neutral Master Fund, Ltd.

 

132,589

 

*

 

132,589

 

 

 

Waterstone Market Neutral MAC51 Fund, Ltd.

 

71,708

 

*

 

71,708

 

 

 

Yield Strategies Fund I, L.P.

 

40,859

 

*

 

40,859

 

 

 

Zurich Institutional Benchmarks Master Fund, Ltd. c/o TQA Investors, LLC

 

9,213

 

*

 

9,213

 

 

 

Zurich Institutional Funds, Wandelanleihen

 

53,117

 

*

 

53,117

 

 

 

 

3



 


*                    Less than 1%.

(1)             Additional selling shareholders not named in the prospectus will not be able to use the prospectus for resales until they are named in the selling shareholder table by prospectus supplement or post-effective amendment. Likewise, transferees, successors and donees of identified selling shareholders will not be able to use this prospectus for resales until they are named in the selling shareholders table by prospectus supplement or post-effective amendment. If required, we will add transferees, successors and donees by additional prospectus supplement in instances where the transferee, successor or donee has acquired its shares from holders named in the prospectus or prospectus supplement after the effective date of this prospectus.

(2)             Assumes conversion of the notes into shares of common stock at a conversion rate of 20.4298 shares of common stock per each $1,000 principal amount of notes. We will issue cash for all fractional shares of our common stock based on the closing sale price of our common stock on the trading day immediately preceding the exchange date.

(3)             The information included with respect to each selling shareholder included in this table, and the aggregate number of shares of common stock into which their notes are exchangeable, has been included in reliance on information provided to us by such selling shareholders. We have received questionnaires from selling shareholders representing an aggregate number of shares in excess of the number of shares that were registered. We cannot verify whether any questionnaires were received from selling shareholders who have subsequently sold their notes, therefore the table may contain information with respect to persons that no longer hold notes.  If and to the extent we receive new questionnaires, we will update the table in future prospectus supplements.

(4)             Based on a total of 146,682,598 shares of our common stock outstanding as of April 18, 2008.

(5)             We do not know when or in what amounts selling shareholders may offer shares of our common stock for sale. The selling shareholders might not sell any or all of the shares of our common stock offered by this prospectus. Because the selling shareholders may offer all or some of the shares of our common stock pursuant to this prospectus, and because there are currently no agreements, arrangements or understandings with respect to the sale of any of the shares of our common stock, we cannot estimate the number of shares of our common stock that will be held by the selling shareholders after completion of this offering. However, for purposes of this table, we have assumed that, after completion of the offering pursuant to this prospectus, none of the shares of our common stock covered by this prospectus will be held by the selling shareholders.

 

4