Dream Industrial REIT completes C$287.5 million subscription receipt offering

On May 31, 2021, Dream Industrial REIT announced its completed offering of subscription receipts at a price of C$13.70 per subscription receipt. The syndicate of underwriters, led by TD Securities Inc., elected to exercise its over-allotment option in full, resulting in a total of 20,987,500 subscription receipts issued for total gross proceeds of C$287,528,750.

The net proceeds from the offering will be used to fund a portion of the purchase price for its previously announced acquisition of shares of a corporation that will indirectly own up to 31 institutional quality, logistics properties across Europe.

In addition, the net proceeds from the sale of the subscription receipts will be held by Computershare Trust Company of Canada, as subscription receipt agent in accordance with a subscription receipt agreement and invested as set forth in the subscription receipt agreement.

Further information can be found on Business Wire’s website.

Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at March 31, 2021, the Trust owns and operates a portfolio of 186 assets (280 industrial buildings) comprising approximately 28.8 million square feet of gross leasable area in key markets across North America and a growing presence in strong European industrial markets.